BlackDiamond Wealth Management LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

BlackDiamond Wealth Management LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 973 shares of the company’s stock after selling 138 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Eli Lilly and Company were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its stake in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Raymond James Financial Inc. bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. Parnassus Investments LLC lifted its stake 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 period. Polen Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 164.4% in the 4th quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock worth $1,000,040,000 after purchasing an additional 805,434 shares during the period. Finally, Essential Planning LLC. lifted its stake in shares of Eli Lilly and Company by 6,406.9% in the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

Shares of LLY opened at $825.48 on Tuesday. The company’s fifty day moving average is $832.05 and its 200 day moving average is $841.68. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The stock has a market capitalization of $782.70 billion, a PE ratio of 70.49, a P/E/G ratio of 1.40 and a beta of 0.34. 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 (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. 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 authorized a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership 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 the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LLY shares. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Citigroup decreased their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.