RNC Capital Management LLC Has $8.68 Million Holdings in Eli Lilly and Company (NYSE:LLY)

RNC Capital Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,887 shares of the company’s stock after selling 103 shares during the period. RNC Capital Management LLC’s holdings in Eli Lilly and Company were worth $8,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JGP Wealth Management LLC lifted its holdings in Eli Lilly and Company by 0.9% in the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock valued at $1,074,000 after buying an additional 16 shares during the period. Cassia Capital Partners LLC lifted its holdings in Eli Lilly and Company by 1.8% in the third quarter. Cassia Capital Partners LLC now owns 951 shares of the company’s stock valued at $511,000 after buying an additional 17 shares during the period. Walkner Condon Financial Advisors LLC lifted its holdings in Eli Lilly and Company by 2.8% in the third quarter. Walkner Condon Financial Advisors LLC now owns 621 shares of the company’s stock valued at $334,000 after buying an additional 17 shares during the period. Patton Albertson Miller Group LLC lifted its holdings in Eli Lilly and Company by 2.8% in the third quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock valued at $335,000 after buying an additional 17 shares during the period. Finally, Valley Wealth Managers Inc. lifted its holdings in Eli Lilly and Company by 1.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock valued at $688,000 after buying an additional 17 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, 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 can be accessed through this hyperlink. Insiders sold 195,055 shares of company stock valued at $125,254,657 in the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Bank of America upped their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, March 15th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, 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 report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $689.52.

Eli Lilly and Company Trading Up 0.5 %

Shares of LLY stock opened at $778.69 on Thursday. Eli Lilly and Company has a 52-week low of $334.58 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 company has a 50-day simple moving average of $727.96 and a two-hundred day simple moving average of $636.01. The company has a market capitalization of $739.88 billion, a price-to-earnings ratio of 134.26, a PEG ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the firm earned $2.09 EPS. The company’s revenue was up 28.1% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 12.42 EPS for the current fiscal year.

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.