Eli Lilly and Company (NYSE:LLY) Stake Reduced by DnB Asset Management AS

DnB Asset Management AS reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 333,008 shares of the company's stock after selling 18,891 shares during the period. Eli Lilly and Company comprises approximately 1.1% of DnB Asset Management AS's holdings, making the stock its 13th biggest holding. DnB Asset Management AS's holdings in Eli Lilly and Company were worth $257,082,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FWG Holdings LLC grew 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 valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC grew its holdings in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after buying an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its stake in shares of Eli Lilly and Company by 2.0% during 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. Garner Asset Management Corp lifted its holdings in shares of 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 acquiring an additional 12 shares during the period. Finally, GSG Advisors LLC boosted its position in shares of Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company's stock worth $328,000 after acquiring an additional 13 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup dropped 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 report on Tuesday, January 28th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,009.72.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm'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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 1.6 %

NYSE LLY traded down $13.04 during mid-day trading on Monday, reaching $809.47. 1,237,355 shares of the company's stock traded hands, compared to its average volume of 3,301,474. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a fifty day simple moving average of $844.31 and a 200-day simple moving average of $835.77. The company has a market cap of $767.52 billion, a price-to-earnings ratio of 69.23, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results 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 return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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.