Lord Abbett & CO. LLC Has $111.79 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Lord Abbett & CO. LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 61.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,810 shares of the company's stock after selling 233,200 shares during the period. Lord Abbett & CO. LLC's holdings in Eli Lilly and Company were worth $111,793,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its stake in 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 purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. raised 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 in the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $50,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LLY. Morgan Stanley cut their target price on 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. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday. They issued an "overweight" rating and a $975.00 target price on the stock. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $1,017.00.

Eli Lilly and Company Trading Up 2.9 %

Eli Lilly and Company stock traded up $25.21 during mid-day trading on Friday, hitting $884.94. 3,395,903 shares of the stock were exchanged, compared to its average volume of 3,444,748. The stock has a market capitalization of $839.07 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 firm's fifty day simple moving average is $827.69 and its two-hundred day simple moving average is $817.91.

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 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%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

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.