Eli Lilly and Company (NYSE:LLY) Stake Trimmed by Old North State Trust LLC

Old North State Trust LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,247 shares of the company’s stock after selling 60 shares during the quarter. Eli Lilly and Company comprises 5.7% of Old North State Trust LLC’s investment portfolio, making the stock its 2nd biggest position. Old North State Trust LLC’s holdings in Eli Lilly and Company were worth $6,561,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the 1st quarter worth approximately $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $915.18, for a total value of $47,927,061.42. Following the completion of the sale, the insider now directly owns 97,247,403 shares of the company’s stock, valued at approximately $88,998,878,277.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 364,810 shares of company stock valued at $339,366,198 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 3.5 %

Shares of LLY opened at $877.79 on Monday. The stock has a market capitalization of $834.26 billion, a P/E ratio of 129.28, a PEG ratio of 2.78 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm has a fifty day simple moving average of $896.10 and a two-hundred day simple moving average of $844.12. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Finally, Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.