Martingale Asset Management L P Reduces Position in Eli Lilly and Company (NYSE:LLY)

Martingale Asset Management L P reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,240 shares of the company's stock after selling 9,490 shares during the period. Eli Lilly and Company makes up about 0.9% of Martingale Asset Management L P's holdings, making the stock its 21st largest position. Martingale Asset Management L P's holdings in Eli Lilly and Company were worth $36,469,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Azimuth Capital Investment Management LLC grew its position in Eli Lilly and Company by 53.5% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 64,843 shares of the company's stock worth $50,059,000 after buying an additional 22,603 shares during the period. APG Asset Management N.V. boosted its stake in shares of Eli Lilly and Company by 500.3% during the 4th quarter. APG Asset Management N.V. now owns 819,153 shares of the company's stock worth $610,706,000 after acquiring an additional 682,693 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after acquiring an additional 12 shares during the period. Bernard Wealth Management Corp. purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $7,097,000. Finally, German American Bancorp Inc. raised its holdings in Eli Lilly and Company by 214.9% during the fourth quarter. German American Bancorp Inc. now owns 7,192 shares of the company's stock worth $5,552,000 after purchasing an additional 4,908 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Up 1.5 %

LLY traded up $10.71 on Friday, reaching $731.62. 3,599,692 shares of the company's stock were exchanged, compared to its average volume of 3,386,382. The company has a market cap of $693.70 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company's 50 day moving average is $837.05 and its 200-day moving average is $822.87.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on LLY shares. 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 report on Monday, February 3rd. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Wells Fargo & Company increased 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. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,017.67.

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.