Alerus Financial NA Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Alerus Financial NA reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,400 shares of the company's stock after selling 1,107 shares during the period. Eli Lilly and Company makes up approximately 1.1% of Alerus Financial NA's investment portfolio, making the stock its 18th biggest position. Alerus Financial NA's holdings in Eli Lilly and Company were worth $14,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after buying an additional 20 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after buying an additional 24,879 shares during the period. FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after buying an additional 43 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $58,000. 82.53% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $1.37 during trading on Friday, hitting $820.30. The stock had a trading volume of 2,124,571 shares, compared to its average volume of 3,309,500. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock's 50 day moving average is $844.31 and its two-hundred day moving average is $836.37. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market cap of $777.78 billion, a price-to-earnings ratio of 70.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

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

Eli Lilly and Company declared that its board has authorized a stock 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company's stock.

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.