Biltmore Family Office LLC Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Biltmore Family Office LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,267 shares of the company’s stock after selling 26 shares during the period. Biltmore Family Office LLC’s holdings in Eli Lilly and Company were worth $2,522,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $1,240,653,000. Finally, Parnassus Investments LLC raised its position in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after purchasing an additional 932,309 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $819.57 on Thursday. The stock has a 50-day simple moving average of $848.85 and a two-hundred day simple moving average of $834.05. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The firm has a market capitalization of $777.09 billion, a PE ratio of 69.99, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results 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 return on equity of 85.24% and a net margin of 23.51%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average 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.