WASHINGTON TRUST Co Raises Holdings in Eli Lilly and Company (NYSE:LLY)

WASHINGTON TRUST Co lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,892 shares of the company’s stock after purchasing an additional 2,671 shares during the period. WASHINGTON TRUST Co’s holdings in Eli Lilly and Company were worth $11,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. Retirement Group LLC grew its stake in shares of Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after buying an additional 35 shares during the period. Cornerstone Planning Group LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $33,000. Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $35,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $36,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’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 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 document filed with the SEC, which is available through this link. Insiders have sold a total of 195,055 shares of company stock worth $125,254,657 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, February 20th. Barclays upped their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley upped 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 research report on Friday, February 16th. Truist Financial reissued a “buy” rating and issued a $850.00 price objective on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $689.52.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $1.50 during trading on Wednesday, hitting $776.40. 1,127,984 shares of the company’s stock traded hands, compared to its average volume of 3,216,364. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The firm’s fifty day moving average price is $725.15 and its 200 day moving average price is $634.68. Eli Lilly and Company has a twelve month low of $334.58 and a twelve month high of $800.78. The company has a market cap of $737.70 billion, a PE ratio of 133.55, a PEG ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 12.42 earnings per share for the current year.

Eli Lilly and Company 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.