Doheny Asset Management CA Sells 537 Shares of Eli Lilly and Company (NYSE:LLY)

Doheny Asset Management CA lowered its stake in Eli Lilly and Company (NYSE:LLY) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,433 shares of the company’s stock after selling 537 shares during the period. Eli Lilly and Company makes up approximately 2.0% of Doheny Asset Management CA’s investment portfolio, making the stock its 17th biggest position. Doheny Asset Management CA’s holdings in Eli Lilly and Company were worth $2,650,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in 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 acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group bought a new stake in Eli Lilly and Company in the fourth quarter worth about $514,000. M&T Bank Corp boosted its position in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after buying an additional 1,867 shares during the period. Kentucky Trust Co bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $834,000. Finally, Cooper Financial Group raised its holdings in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Truist Financial raised their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $813.55 on Friday. The company has a 50 day moving average of $830.81 and a two-hundred day moving average of $844.01. The company has a market cap of $771.38 billion, a price-to-earnings ratio of 69.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.