CIBC Private Wealth Group LLC Sells 114 Shares of Eli Lilly and Company (NYSE:LLY)

CIBC Private Wealth Group LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.0% in the 4th quarter, according to the company in its most recent 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 0.9% of CIBC Private Wealth Group LLC’s holdings, making the stock its 18th biggest position. CIBC Private Wealth Group LLC owned 0.07% of Eli Lilly and Company worth $494,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LLY. Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC increased its holdings in shares of Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $1,240,653,000. Parnassus Investments LLC boosted its stake in Eli Lilly and Company by 38,959.8% in the 4th 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 in the last quarter. Finally, Polen Capital Management LLC boosted its stake in Eli Lilly and Company by 164.4% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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 completion of the transaction, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 0.2 %

Shares of Eli Lilly and Company stock opened at $820.30 on Friday. The firm has a 50-day simple moving average of $844.31 and a two-hundred day simple moving average of $836.37. 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 company has a market cap of $777.78 billion, a P/E 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 issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Wells Fargo & Company raised their price target on shares of 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. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research note on Thursday, March 6th. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

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.