Adage Capital Partners GP L.L.C. Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Adage Capital Partners GP L.L.C. trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,550 shares of the company's stock after selling 96,832 shares during the period. Eli Lilly and Company comprises about 1.0% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 13th biggest position. Adage Capital Partners GP L.L.C. owned about 0.08% of Eli Lilly and Company worth $565,529,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC grew its position in 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 acquiring an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Insider Transactions at Eli Lilly and Company

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LLY shares. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup decreased their price target on shares of 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. Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday. They set an "overweight" rating and a $975.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,017.00.

Eli Lilly and Company Stock Up 1.2 %

NYSE:LLY opened at $827.87 on Wednesday. The company's 50-day simple moving average is $827.10 and its 200-day simple moving average is $818.99. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The stock has a market capitalization of $784.96 billion, a P/E ratio of 70.70, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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.

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