Quadrant Capital Group LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Quadrant Capital Group LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,357 shares of the company’s stock after selling 651 shares during the period. Eli Lilly and Company accounts for about 0.6% of Quadrant Capital Group LLC’s holdings, making the stock its 24th largest holding. Quadrant Capital Group LLC’s holdings in Eli Lilly and Company were worth $7,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FWG Holdings LLC boosted its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its position in shares of Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after buying an additional 12 shares in the last quarter. Garner Asset Management Corp grew its position in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares during the last quarter. Finally, GSG Advisors LLC raised its stake in Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after acquiring an additional 13 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 6.5 %

Shares of NYSE LLY opened at $737.56 on Friday. The stock has a market capitalization of $699.33 billion, a price-to-earnings ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a 50-day moving average price of $848.36 and a 200 day moving average price of $831.93. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on LLY. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research note on Thursday, March 6th. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

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.