California Public Employees Retirement System Sells 74,910 Shares of Eli Lilly and Company (NYSE:LLY)

California Public Employees Retirement System cut its stake in Eli Lilly and Company (NYSE:LLY) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,861,177 shares of the company’s stock after selling 74,910 shares during the period. Eli Lilly and Company accounts for about 1.0% of California Public Employees Retirement System’s investment portfolio, making the stock its 14th biggest position. California Public Employees Retirement System owned approximately 0.20% of Eli Lilly and Company worth $1,436,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. RWA Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. RWA Wealth Partners LLC now owns 45,191 shares of the company’s stock worth $34,888,000 after buying an additional 1,028 shares during the period. Schroder Investment Management Group increased its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Schroder Investment Management Group now owns 1,686,582 shares of the company’s stock valued at $1,302,041,000 after acquiring an additional 5,369 shares during the last quarter. Allianz SE acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $29,310,000. Valley Forge Investment Consultants Inc. ADV bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $103,000. Finally, Accent Capital Management LLC boosted its stake in Eli Lilly and Company by 168.0% during the 4th quarter. Accent Capital Management LLC now owns 5,886 shares of the company’s stock worth $4,544,000 after acquiring an additional 3,690 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 the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LLY has been the topic of several analyst reports. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Finally, Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 0.2 %

Shares of NYSE:LLY opened at $820.30 on Friday. The company’s 50-day moving average price is $844.31 and its two-hundred day moving average price is $836.37. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $777.78 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its 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%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Eli Lilly and 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.