Payden & Rygel Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Payden & Rygel lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 24.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,520 shares of the company's stock after selling 3,000 shares during the period. Payden & Rygel's holdings in Eli Lilly and Company were worth $7,349,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after buying an additional 724 shares during the period. Centerpoint Advisory Group purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $514,000. M&T Bank Corp grew its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company's stock worth $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Kentucky Trust Co purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $834,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $6.43 during mid-day trading on Tuesday, hitting $717.30. The company's stock had a trading volume of 2,938,936 shares, compared to its average volume of 3,337,692. The business's fifty day moving average is $846.64 and its two-hundred day moving average is $830.05. The stock has a market cap of $680.12 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

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

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other 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 shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LLY shares. Bank of America reissued a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $1,018.89.

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.