Eli Lilly and Company (NYSE:LLY) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 628,733 shares of the company’s stock after selling 114 shares during the quarter. Eli Lilly and Company comprises about 0.9% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 18th biggest holding. CIBC Private Wealth Group LLC’s holdings in Eli Lilly and Company were worth $494,951,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC lifted its stake in Eli Lilly and Company by 100,387.1% in the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. Parnassus Investments LLC grew its position in shares of Eli Lilly and Company by 38,959.8% in the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after purchasing an additional 932,309 shares in the last quarter. Finally, Polen Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 164.4% in the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock valued at $1,000,040,000 after purchasing an additional 805,434 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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 dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $820.30 on Friday. The stock’s 50-day moving average price is $844.31 and its 200 day moving average price is $836.37. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market cap of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34. 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) last issued its quarterly earnings results 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Citigroup lowered 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 research report on Tuesday, January 28th. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company 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.