Eli Lilly and Company (NYSE:LLY) Holdings Lifted by Parallel Advisors LLC

Parallel Advisors LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,277 shares of the company’s stock after acquiring an additional 2,628 shares during the period. Parallel Advisors LLC’s holdings in Eli Lilly and Company were worth $20,286,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $606,000. WESPAC Advisors SoCal LLC increased its stake in shares of Eli Lilly and Company by 8.4% in the third quarter. WESPAC Advisors SoCal LLC now owns 16,676 shares of the company’s stock worth $14,774,000 after acquiring an additional 1,290 shares during the last quarter. Schear Investment Advisers LLC raised its holdings in shares of Eli Lilly and Company by 8.9% during the third quarter. Schear Investment Advisers LLC now owns 8,396 shares of the company’s stock worth $7,438,000 after acquiring an additional 687 shares in the last quarter. Finally, Beaton Management Co. Inc. raised its holdings in shares of Eli Lilly and Company by 0.3% during the third quarter. Beaton Management Co. Inc. now owns 5,747 shares of the company’s stock worth $5,091,000 after acquiring an additional 15 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $813.55 on Monday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a market cap of $771.38 billion, a P/E ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34. The business’s 50 day moving average is $830.81 and its two-hundred day moving average is $842.50. 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 (NYSE:LLY) last issued 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%. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages have weighed in on LLY. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup dropped 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 note on Tuesday, January 28th. 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 eighteen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity

In related 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 value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.