Archer Investment Corp Sells 298 Shares of Eli Lilly and Company (NYSE:LLY)

Archer Investment Corp lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,584 shares of the company’s stock after selling 298 shares during the quarter. Archer Investment Corp’s holdings in Eli Lilly and Company were worth $2,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lipe & Dalton bought a new stake in Eli Lilly and Company in the fourth quarter valued at about $26,000. Thompson Investment Management Inc. bought a new stake in Eli Lilly and Company during the third quarter worth about $27,000. Retirement Group LLC grew its stake in Eli Lilly and Company by 159.1% during the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after buying an additional 35 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in Eli Lilly and Company during the second quarter worth about $33,000. Finally, Legacy Financial Group LLC bought a new stake in Eli Lilly and Company during the third quarter worth about $35,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.4 %

LLY traded up $3.34 during mid-day trading on Wednesday, hitting $750.08. The stock had a trading volume of 2,500,971 shares, compared to its average volume of 3,076,510. Eli Lilly and Company has a 1-year low of $367.35 and a 1-year high of $800.78. 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 stock’s fifty day simple moving average is $763.51 and its 200-day simple moving average is $657.01. The firm has a market capitalization of $712.70 billion, a price-to-earnings ratio of 128.75, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations 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 revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. As a group, research analysts forecast that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

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 value of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. The Goldman Sachs Group upped 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. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Barclays increased their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $728.05.

About Eli Lilly and Company

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.