Eli Lilly and Company (NYSE:LLY) Shares Sold by Forum Private Client Group LLC

Forum Private Client Group LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,847 shares of the company’s stock after selling 148 shares during the quarter. Eli Lilly and Company accounts for about 2.0% of Forum Private Client Group LLC’s holdings, making the stock its 15th biggest position. Forum Private Client Group LLC’s holdings in Eli Lilly and Company were worth $4,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP grew its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the period. Raymond James Financial Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $1,240,653,000. Finally, Parnassus Investments LLC lifted its position in shares of Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after acquiring an additional 932,309 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $737.56 on Friday. The company has a market cap of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34. The firm’s 50 day moving average is $848.36 and its two-hundred day moving average is $831.93. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

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

Analyst Ratings Changes

A number of research firms recently weighed in on LLY. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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.