Prudential PLC Sells 7,681 Shares of Eli Lilly and Company (NYSE:LLY)

Prudential PLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,372 shares of the company's stock after selling 7,681 shares during the period. Eli Lilly and Company comprises approximately 0.3% of Prudential PLC's holdings, making the stock its 26th biggest position. Prudential PLC's holdings in Eli Lilly and Company were worth $52,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LLY. Highline Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after buying an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after acquiring an additional 24,879 shares during the period. FPC Investment Advisory Inc. raised its position in shares of 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 purchasing an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $48,000. Finally, Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the fourth quarter valued at $50,000. Institutional investors own 82.53% of the company's stock.

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Eli Lilly and Company Stock Down 6.5 %

NYSE:LLY traded down $51.53 during trading hours on Friday, hitting $737.56. 5,289,016 shares of the stock traded hands, compared to its average volume of 3,322,098. The firm has a 50 day moving average price of $848.36 and a 200 day moving average price of $832.44. The firm has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $706.96 and a fifty-two week high of $972.53. 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 (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 85.24% and a net margin of 23.51%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LLY. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Bank of America reiterated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price target 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, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average price target of $1,009.72.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $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 is available through the SEC website. 0.13% of the stock is currently 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.