Maryland State Retirement & Pension System Sells 2,797 Shares of Eli Lilly and Company (NYSE:LLY)

Maryland State Retirement & Pension System reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,278 shares of the company’s stock after selling 2,797 shares during the period. Eli Lilly and Company makes up 0.7% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 26th biggest position. Maryland State Retirement & Pension System’s holdings in Eli Lilly and Company were worth $33,411,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its stake in Eli Lilly and Company by 100,387.1% in 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. bought a new stake in Eli Lilly and Company in the fourth quarter worth $1,240,653,000. Parnassus Investments LLC lifted its stake in 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 worth $721,590,000 after purchasing an additional 932,309 shares during the last quarter. Polen Capital Management LLC lifted its stake in 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 worth $1,000,040,000 after purchasing an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. lifted its stake in Eli Lilly and Company by 6,406.9% in the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LLY. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note 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 note on Monday, February 3rd. 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. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This 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 this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $821.67 on Wednesday. The stock has a market cap of $779.08 billion, a PE ratio of 70.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm’s 50-day simple moving average is $833.02 and its two-hundred day simple moving average is $840.71.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Analysts anticipate 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 of Directors has initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.