Marietta Investment Partners LLC Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Marietta Investment Partners LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 33.2% during the 4th quarter, Holdings Channel reports. The firm owned 5,304 shares of the company’s stock after selling 2,635 shares during the quarter. Marietta Investment Partners LLC’s holdings in Eli Lilly and Company were worth $4,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $1,240,653,000. Parnassus Investments LLC boosted its stake in Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after acquiring an additional 932,309 shares during the last quarter. Polen Capital Management LLC boosted its stake in Eli Lilly and Company by 164.4% during the 4th quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock valued at $1,000,040,000 after acquiring an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. boosted its stake in Eli Lilly and Company by 6,406.9% during the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock valued at $593,544,000 after acquiring an additional 705,076 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research reports. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial boosted their price target 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. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Citigroup lowered their price objective 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 research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Down 0.4 %

Shares of NYSE LLY opened at $839.44 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $795.93 billion, a price-to-earnings ratio of 71.69, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock has a 50-day moving average price of $835.99 and a two-hundred day moving average price of $839.87.

Eli Lilly and Company (NYSE:LLY) last released 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%. As a group, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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.