Eli Lilly and Company (NYSE:LLY) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 20.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,312 shares of the company’s stock after selling 1,336 shares during the period. Eli Lilly and Company makes up approximately 1.6% of Rakuten Securities Inc.’s investment portfolio, making the stock its 8th biggest position. Rakuten Securities Inc.’s holdings in Eli Lilly and Company were worth $4,101,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. raised its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Finally, Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.7 %

Shares of LLY opened at $823.95 on Wednesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $781.25 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 1.40 and a beta of 0.34. The company has a 50-day moving average of $828.77 and a 200 day moving average of $845.45. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.