Northcape Wealth Management LLC Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Northcape Wealth Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,287 shares of the company’s stock after selling 619 shares during the quarter. Eli Lilly and Company makes up approximately 1.5% of Northcape Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Northcape Wealth Management LLC’s holdings in Eli Lilly and Company were worth $4,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lipe & Dalton purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. Legacy Financial Group LLC purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $35,000. Optiver Holding B.V. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $36,000. Finally, Family CFO Inc purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $40,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on LLY shares. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a report on Wednesday, February 21st. Morgan Stanley lifted their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Bank of America lifted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $731.55.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $44.36 on Tuesday, reaching $781.56. 7,432,651 shares of the company’s stock traded hands, compared to its average volume of 3,071,009. The firm has a market cap of $742.61 billion, a price-to-earnings ratio of 134.43, a P/E/G ratio of 1.60 and a beta of 0.34. The stock has a 50 day moving average price of $760.89 and a 200-day moving average price of $668.00. Eli Lilly and Company has a fifty-two week low of $392.26 and a fifty-two week high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94.

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. Equities research analysts predict that Eli Lilly and Company will post 12.51 EPS for the current fiscal 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.