Fernwood Investment Management LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Fernwood Investment Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,652 shares of the company’s stock after selling 1,868 shares during the quarter. Eli Lilly and Company makes up approximately 1.4% of Fernwood Investment Management LLC’s holdings, making the stock its 14th largest holding. Fernwood Investment Management LLC’s holdings in Eli Lilly and Company were worth $5,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LLY. Adell Harriman & Carpenter Inc. increased its holdings in shares of Eli Lilly and Company by 86.3% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 5,556 shares of the company’s stock valued at $3,239,000 after acquiring an additional 2,574 shares during the last quarter. Naviter Wealth LLC boosted its position in Eli Lilly and Company by 9.6% during the 4th quarter. Naviter Wealth LLC now owns 3,650 shares of the company’s stock valued at $2,128,000 after purchasing an additional 319 shares during the period. Bluesphere Advisors LLC boosted its position in Eli Lilly and Company by 98.5% during the 4th quarter. Bluesphere Advisors LLC now owns 1,209 shares of the company’s stock valued at $705,000 after purchasing an additional 600 shares during the period. Choreo LLC boosted its position in Eli Lilly and Company by 35.3% during the 4th quarter. Choreo LLC now owns 8,643 shares of the company’s stock valued at $5,038,000 after purchasing an additional 2,257 shares during the period. Finally, McAdam LLC boosted its position in Eli Lilly and Company by 5.6% during the 4th quarter. McAdam LLC now owns 1,590 shares of the company’s stock valued at $927,000 after purchasing an additional 84 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

LLY stock traded up $3.82 during midday trading on Monday, reaching $737.33. 2,726,536 shares of the company’s stock traded hands, compared to its average volume of 3,017,770. The company has a 50-day simple moving average of $761.79 and a two-hundred day simple moving average of $667.10. Eli Lilly and Company has a 1-year low of $392.26 and a 1-year high of $800.78. The company has a market cap of $700.58 billion, a price-to-earnings ratio of 127.13, a PEG ratio of 1.60 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. On average, analysts anticipate that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have issued reports on LLY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $815.00 price target on shares of Eli Lilly and Company in a research report on Monday, April 15th. Citigroup upped their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, Truist Financial restated a “buy” rating and issued a $850.00 price objective on shares of Eli Lilly and Company in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

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.