Sand Hill Global Advisors LLC Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sand Hill Global Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,568 shares of the company’s stock after selling 60 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Eli Lilly and Company were worth $6,615,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter worth $8,407,908,000. Proficio Capital Partners LLC raised its position in shares of Eli Lilly and Company by 100,387.1% during 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 during the last quarter. Wellington Management Group LLP lifted its stake in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter worth about $1,240,653,000. Finally, Parnassus Investments LLC increased 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 worth $721,590,000 after buying an additional 932,309 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $722.03 on Tuesday. The stock has a fifty day simple moving average of $846.64 and a 200-day simple moving average of $830.05. 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 stock has a market cap of $684.61 billion, a PE ratio of 61.66, a P/E/G ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its 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%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Wells Fargo & Company raised their target price on 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. Citigroup decreased their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target 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.