Adams Diversified Equity Fund Inc. Has $38.42 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Adams Diversified Equity Fund Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,768 shares of the company's stock after selling 6,700 shares during the period. Eli Lilly and Company comprises about 1.5% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 12th biggest position. Adams Diversified Equity Fund Inc.'s holdings in Eli Lilly and Company were worth $38,421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. One Charles Private Wealth Services LLC grew its holdings in shares of Eli Lilly and Company by 6.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 447 shares of the company's stock worth $345,000 after purchasing an additional 27 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $252,000. Lee Danner & Bass Inc. boosted its stake in shares of Eli Lilly and Company by 13.2% in the 4th quarter. Lee Danner & Bass Inc. now owns 559 shares of the company's stock valued at $432,000 after purchasing an additional 65 shares during the last quarter. Vickerman Investment Advisors Inc. grew its position in shares of Eli Lilly and Company by 61.4% during the 4th quarter. Vickerman Investment Advisors Inc. now owns 728 shares of the company's stock worth $562,000 after buying an additional 277 shares during the period. Finally, Bruce & Co. Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $1,544,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $12.55 during mid-day trading on Tuesday, reaching $852.35. The company's stock had a trading volume of 2,669,339 shares, compared to its average volume of 3,149,249. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $808.17 billion, a P/E ratio of 72.79, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business has a 50-day simple moving average of $837.36 and a two-hundred day simple moving average of $837.97.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts anticipate 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 of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on LLY. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Bank of America reissued 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. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Truist Financial boosted 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 report on Monday, February 3rd. Finally, Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price 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.