South Street Advisors LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

South Street Advisors LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 11.6% during the fourth quarter, Holdings Channel reports. The fund owned 28,658 shares of the company’s stock after selling 3,749 shares during the quarter. Eli Lilly and Company accounts for 3.4% of South Street Advisors LLC’s holdings, making the stock its 10th largest position. South Street Advisors LLC’s holdings in Eli Lilly and Company were worth $22,124,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LLY. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. FPC Investment Advisory Inc. raised its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $50,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $825.48 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $782.70 billion, a PE ratio of 70.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The business has a 50 day simple moving average of $832.05 and a 200 day simple moving average of $841.68.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on LLY shares. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

About Eli Lilly and Company

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.