Argyle Capital Management Inc. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Argyle Capital Management Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,467 shares of the company’s stock after selling 3,715 shares during the period. Eli Lilly and Company accounts for approximately 4.5% of Argyle Capital Management Inc.’s portfolio, making the stock its 2nd largest holding. Argyle Capital Management Inc.’s holdings in Eli Lilly and Company were worth $10,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Meridian Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 5.6% during the fourth quarter. Meridian Wealth Partners LLC now owns 607 shares of the company’s stock worth $354,000 after purchasing an additional 32 shares in the last quarter. Magnus Financial Group LLC boosted its stake in Eli Lilly and Company by 3.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,418 shares of the company’s stock worth $3,158,000 after buying an additional 163 shares in the last quarter. Convergence Investment Partners LLC boosted its stake in Eli Lilly and Company by 9.5% in the fourth quarter. Convergence Investment Partners LLC now owns 1,554 shares of the company’s stock worth $906,000 after buying an additional 135 shares in the last quarter. Little House Capital LLC boosted its stake in Eli Lilly and Company by 85.3% in the fourth quarter. Little House Capital LLC now owns 2,515 shares of the company’s stock worth $1,466,000 after buying an additional 1,158 shares in the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $292,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 1.2 %

LLY stock traded up $8.64 on Friday, reaching $733.51. The company’s stock had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. The business has a fifty day simple moving average of $761.79 and a two-hundred day simple moving average of $667.10. Eli Lilly and Company has a 12-month low of $380.77 and a 12-month high of $800.78. The firm has a market cap of $696.95 billion, a PE ratio of 126.47, a PEG ratio of 1.60 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during 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 quarter last year, the firm posted $2.09 earnings per share. As a group, research analysts forecast that Eli Lilly and Company will post 12.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. The Goldman Sachs Group upped their target price 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. Morgan Stanley increased their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $815.00 price objective on shares of Eli Lilly and Company in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $728.05.

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 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 completion of the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

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.