State of Tennessee Department of Treasury Sells 16,948 Shares of Eli Lilly and Company (NYSE:LLY)

State of Tennessee Department of Treasury trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,720 shares of the company's stock after selling 16,948 shares during the period. Eli Lilly and Company accounts for about 0.8% of State of Tennessee Department of Treasury's portfolio, making the stock its 23rd biggest holding. State of Tennessee Department of Treasury's holdings in Eli Lilly and Company were worth $217,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. increased its position in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company during the 4th quarter worth $48,000. Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $50,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $58,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

LLY traded up $31.69 on Thursday, reaching $861.11. The stock had a trading volume of 2,936,578 shares, compared to its average volume of 3,430,652. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $816.48 billion, a price-to-earnings ratio of 73.54, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a 50-day moving average of $826.81 and a 200-day moving average of $819.07.

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 (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, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Guggenheim dropped their price target on shares of Eli Lilly and Company from $973.00 to $928.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Finally, 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 report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,017.00.

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.