Fmr LLC Sells 2,501,172 Shares of Eli Lilly and Company (NYSE:LLY)

FMR LLC cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,535,248 shares of the company's stock after selling 2,501,172 shares during the quarter. Eli Lilly and Company makes up approximately 1.4% of FMR LLC's portfolio, making the stock its 8th largest holding. FMR LLC owned approximately 3.22% of Eli Lilly and Company worth $23,573,212,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Raymond James Financial Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $1,240,653,000. Finally, Parnassus Investments LLC raised its holdings in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company's stock valued at $721,590,000 after buying an additional 932,309 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Morgan Stanley cut their target price on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Wednesday. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $892.00 to $888.00 in a research note on Tuesday. Finally, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,017.67.

Eli Lilly and Company Stock Performance

LLY traded down $30.25 during trading on Thursday, reaching $723.46. 2,356,613 shares of the company were exchanged, compared to its average volume of 3,361,477. 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 52 week low of $677.09 and a 52 week high of $972.53. The firm has a 50 day moving average of $840.79 and a 200 day moving average of $826.23. The stock has a market cap of $685.96 billion, a P/E ratio of 61.27, a PEG ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated 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 $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.