Eli Lilly and Company (NYSE:LLY) Shares Sold by Columbia Asset Management

Columbia Asset Management reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,072 shares of the company's stock after selling 1,417 shares during the period. Eli Lilly and Company comprises about 1.1% of Columbia Asset Management's investment portfolio, making the stock its 21st largest holding. Columbia Asset Management's holdings in Eli Lilly and Company were worth $6,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FWG Holdings LLC lifted its stake in Eli Lilly and Company by 0.6% in the 4th 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 during the last quarter. Morling Financial Advisors LLC boosted its position in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after buying an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings 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 buying an additional 12 shares during the last quarter. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the period. Finally, GSG Advisors LLC increased its position in shares of Eli Lilly and Company by 3.2% during the fourth quarter. GSG Advisors LLC now owns 425 shares of the company's stock worth $328,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

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Eli Lilly and Company Stock Up 1.8 %

LLY stock traded up $14.34 during mid-day trading on Wednesday, reaching $819.57. The company had a trading volume of 2,678,114 shares, compared to its average volume of 3,311,810. 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 market capitalization of $777.09 billion, a price-to-earnings ratio of 69.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. 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 firm has a fifty day simple moving average of $848.85 and a 200 day simple moving average of $834.05.

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 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%. Analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Wells Fargo & Company boosted their price target on shares of 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. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Truist Financial upped 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. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,009.72.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was 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. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 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.