Eli Lilly and Company (NYSE:LLY) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 24.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,179 shares of the company’s stock after selling 5,764 shares during the period. Alaska Permanent Fund Corp’s holdings in Eli Lilly and Company were worth $10,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $36,000. Finally, Family CFO Inc purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $40,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. DZ Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a research report on Wednesday, February 21st. Morgan Stanley boosted their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Truist Financial restated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their price target 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. Finally, Bank of America boosted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Stock Performance

LLY traded down $5.11 during trading hours on Thursday, hitting $727.09. The stock had a trading volume of 316,602 shares, compared to its average volume of 3,005,401. The company’s fifty day simple moving average is $763.40 and its 200 day simple moving average is $664.52. Eli Lilly and Company has a 1 year low of $370.68 and a 1 year high of $800.78. The stock has a market cap of $690.85 billion, a PE ratio of 126.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 return on equity of 51.22% and a net margin of 15.36%. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 54,032 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $645.07, for a total value of $34,854,422.24. Following the transaction, the insider now directly owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Profile

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.