Community Bank N.A. Trims Position in Eli Lilly and Company (NYSE:LLY)

Community Bank N.A. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,779 shares of the company’s stock after selling 242 shares during the quarter. Community Bank N.A.’s holdings in Eli Lilly and Company were worth $2,786,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $26,000. Thompson Investment Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth about $27,000. Legacy Financial Group LLC purchased a new stake in Eli Lilly and Company in the third quarter worth about $35,000. Optiver Holding B.V. purchased a new stake in Eli Lilly and Company in the third quarter worth about $36,000. Finally, Family CFO Inc purchased a new stake in Eli Lilly and Company in the third quarter worth about $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.8 %

LLY stock traded down $13.49 during midday trading on Wednesday, reaching $732.20. 2,052,626 shares of the company traded hands, compared to its average volume of 3,038,542. Eli Lilly and Company has a 52-week low of $370.68 and a 52-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. The business has a 50 day moving average of $763.40 and a 200-day moving average of $664.52. The firm has a market capitalization of $695.71 billion, a price-to-earnings ratio of 126.24, a P/E/G ratio of 1.59 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and issued a $850.00 price objective on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $815.00 price objective on shares of Eli Lilly and Company in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on 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. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $728.05.

Insiders Place Their Bets

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

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.