Cumberland Partners Ltd Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Cumberland Partners Ltd decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 34.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,025 shares of the company’s stock after selling 4,220 shares during the period. Cumberland Partners Ltd’s holdings in Eli Lilly and Company were worth $4,608,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. JGP Wealth Management LLC grew its position in shares of Eli Lilly and Company by 0.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock valued at $1,074,000 after purchasing an additional 16 shares in the last quarter. Walkner Condon Financial Advisors LLC grew its position in shares of Eli Lilly and Company by 2.8% during the third quarter. Walkner Condon Financial Advisors LLC now owns 621 shares of the company’s stock valued at $334,000 after purchasing an additional 17 shares in the last quarter. Patton Albertson Miller Group LLC grew its position in shares of Eli Lilly and Company by 2.8% during the third quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock valued at $335,000 after purchasing an additional 17 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings in shares of Eli Lilly and Company by 1.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock valued at $688,000 after acquiring an additional 17 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 0.8% in the 4th quarter. Sandy Cove Advisors LLC now owns 2,241 shares of the company’s stock valued at $1,307,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LLY. Bank of America increased their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $815.00 price objective on shares of Eli Lilly and Company in a research note on Monday, April 15th. Finally, TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $14.29 on Tuesday, hitting $745.62. 2,041,595 shares of the company were exchanged, compared to its average volume of 3,051,032. Eli Lilly and Company has a 1-year low of $370.68 and a 1-year high of $800.78. The stock’s 50 day moving average price is $763.89 and its 200 day moving average price is $664.05. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $708.46 billion, a P/E ratio of 128.56, a price-to-earnings-growth ratio of 1.58 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Sell-side analysts predict that Eli Lilly and Company will post 12.52 EPS for the current year.

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.