Arrowstreet Capital Limited Partnership Sells 1,614,296 Shares of Eli Lilly and Company (NYSE:LLY)

Arrowstreet Capital Limited Partnership cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 99.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,848 shares of the company's stock after selling 1,614,296 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Eli Lilly and Company were worth $11,463,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Allianz SE acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $29,310,000. Valley Forge Investment Consultants Inc. ADV acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $103,000. Accent Capital Management LLC raised its stake in shares of Eli Lilly and Company by 168.0% during the fourth quarter. Accent Capital Management LLC now owns 5,886 shares of the company's stock valued at $4,544,000 after purchasing an additional 3,690 shares in the last quarter. Hobbs Group Advisors LLC lifted its holdings in Eli Lilly and Company by 5.0% in the fourth quarter. Hobbs Group Advisors LLC now owns 272 shares of the company's stock worth $210,000 after purchasing an additional 13 shares during the period. Finally, Biondo Investment Advisors LLC grew its position in Eli Lilly and Company by 0.7% in the 4th quarter. Biondo Investment Advisors LLC now owns 17,941 shares of the company's stock valued at $13,851,000 after buying an additional 117 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of 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. Bank of America restated a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a report on Thursday, March 6th. Three 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,009.72.

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Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was 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 in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Down 6.5 %

Shares of LLY stock traded down $51.53 on Friday, reaching $737.56. 5,289,016 shares of the company's stock traded hands, compared to its average volume of 3,326,912. The company has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business's 50 day moving average price is $848.36 and its two-hundred day moving average price is $831.93.

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

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.