Atlanta Consulting Group Advisors LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Atlanta Consulting Group Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 751 shares of the company’s stock after selling 26 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in Eli Lilly and Company were worth $580,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. SlateStone Wealth LLC raised its position in shares of Eli Lilly and Company by 4.2% in the 4th quarter. SlateStone Wealth LLC now owns 3,275 shares of the company’s stock worth $2,528,000 after buying an additional 131 shares during the period. First National Advisers LLC raised its position in shares of Eli Lilly and Company by 2.9% in the 4th quarter. First National Advisers LLC now owns 11,852 shares of the company’s stock worth $9,150,000 after buying an additional 334 shares during the period. GWN Securities Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $3,726,000. Altus Wealth Group LLC raised its position in Eli Lilly and Company by 8.6% in the fourth quarter. Altus Wealth Group LLC now owns 352 shares of the company’s stock valued at $272,000 after purchasing an additional 28 shares during the period. Finally, Strategic Financial Partners Ltd. purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $290,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.5 %

Shares of Eli Lilly and Company stock opened at $813.55 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market cap of $771.38 billion, a P/E ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The business has a 50-day moving average price of $830.81 and a 200 day moving average price of $842.50.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on LLY. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial raised their price objective on 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. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.