Pitcairn Co. Sells 241 Shares of Eli Lilly and Company (NYSE:LLY)

Pitcairn Co. cut its stake in Eli Lilly and Company (NYSE:LLY) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,688 shares of the company’s stock after selling 241 shares during the quarter. Pitcairn Co.’s holdings in Eli Lilly and Company were worth $6,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Grant Private Wealth Management Inc bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $301,000. Arete Wealth Advisors LLC boosted its stake in shares of Eli Lilly and Company by 37.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 7,454 shares of the company’s stock worth $5,750,000 after buying an additional 2,016 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 0.9% in the fourth quarter. Motley Fool Asset Management LLC now owns 39,375 shares of the company’s stock worth $30,398,000 after acquiring an additional 370 shares during the period. World Investment Advisors increased its position in Eli Lilly and Company by 14.9% during the fourth quarter. World Investment Advisors now owns 16,574 shares of the company’s stock valued at $12,795,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Disciplined Investors L.L.C. purchased a new position in Eli Lilly and Company in the fourth quarter worth about $207,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

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 shares were 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $819.57 on Thursday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market cap of $777.09 billion, a price-to-earnings ratio of 69.99, a P/E/G ratio of 1.40 and a beta of 0.34. The firm has a fifty day moving average price of $848.85 and a 200 day moving average price of $834.05. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

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.