As of the latest disclosure filed with the Securities and Exchange Commission on May 6, 2023, Glenview Trust Co has trimmed their stake in Eli Lilly and Company by 1.7% to approximately 138,197 shares of the pharmaceutical giant’s stock. This came after selling off 2,361 shares during Q4 of the previous year. With these adjustments to its investments, Eli Lilly and Co now makes up roughly 1.7% of Glenview Trust Co’s portfolio, ranking as the firm’s fourteenth largest holding. The current value of Glenview’s holdings in Eli Lilly comes to a total of $50,558,000.
Eli Lilly and Company has been a popular topic among industry analysts recently as several experts have weighed in on LLY shares. Wells Fargo & Company raised its price target on Eli Lilly from $375 to $440 on April 28th while BMO Capital Markets increased their price target for the same company from $430 to $505 a day earlier. Meanwhile, Citigroup adjusted its price objective down from $370 to $360 but still gave Eli Lilly a “buy” rating back on March 3rd.
Credit Suisse Group took an even more optimistic view, lifting their target price for Eli Lilly and Company up to $490 amid increasing confidence in the firm’s potential performance indicators.
However, Guggenheim went against the grain slightly by lowering its own price target for Eli Lilly from $395 to $392 just this last April 11th while still maintaining a “buy” recommendation for the company.
Despite this mixed reception among financial analysts towards obtaining positions in Eli Lilly and Co stock currently boasts an average rating of “Moderate Buy” according to information sourced by Bloomberg.
On Friday May 6th itself in question, buyers traded shares of LLY at $428.89 per share during mid-day trading sessions receiving only a small boost upwards reaching about $0.45 cents per share in trading volume to 1,431,593 shares versus an average of 3,222,800. The company’s stock has been known for fluctuating between $283.00 and $434.20 over the past year and is currently hovering around a 50-day moving average price of $351.90 and a two-hundred-day moving average price of $353.32.
Eli Lilly holds the reins over what analysts project to be continued success, maintaining their market capitalization value previous high records reaching about $407.13 billion even with a relatively low-to-moderate beta of 0.37 thanks in large part to an unbelievably low price-to-earnings ratio (P/E) of only 68.11 times earnings compared to industry-standard growth stocks – backed up by proof in their PEG ratio typically set around 2.32Â or lower – all defining key indicators that are hard to ignore when considering large investments like Eli Lilly into your portfolio mix today or tomorrow for wealthy investors willing to play the long game in pharmaceuticals’ ever-expanding sector today…
Investors React to Hedge Funds’ Moves and Shareholder Sales in Eli Lilly & Co.
Eli Lilly & Co., the prominent pharmaceutical corporation, has been making waves in the investment world recently as several hedge funds have added or reduced their stakes in the company. Vanguard Group Inc. increased its holdings by 1.4%, while State Street Corp lifted its stake by 0.5%. Price T Rowe Associates Inc. MD took a bolder position, boosting its holdings by 21.6%, while Fisher Asset Management LLC increased its share in Eli Lilly & Co. by 2.3%. In total, institutional investors own an impressive 82.13% of the company’s stock.
However, it’s not just hedge funds that are making moves with Eli Lilly & Co.; significant shareholder Lilly Endowment Inc sold 200,000 shares of the business’s stock on March 24th at an average price of $335.82 per share, bringing in a total of $67,164,000 for the insider.
Several analysts have also weighed in on the potential of Eli Lilly & Co., with Wells Fargo & Company raising their price target from $375 to $440 and BMO Capital Markets lifting theirs from $430 to $505.
Despite positive moves among investors and analysts alike, Eli Lilly & Co.’s Q1 earnings report missed analyst estimates: The company posted earnings per share of $1.62 for the quarter compared to an expected EPS of$1.73.
If invested parties are looking for additional incentive to invest in this forward-thinking company then they should consider that on June 9th, Eli Lilly will issue another quarterly dividend at a rate of $1.13 per outstanding common share; quality news for any investor considering taking a position with this stable and yielding stock option.
