Eli Lilly and Company (NYSE:LLY) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 40.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,202 shares of the company’s stock after selling 57,194 shares during the quarter. Pinebridge Investments L.P.’s holdings in Eli Lilly and Company were worth $65,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake 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 worth $1,070,698,000 after purchasing an additional 60,306 shares during the period. Invst LLC increased its holdings in shares of Eli Lilly and Company by 3.5% during the 3rd quarter. Invst LLC now owns 5,552 shares of the company’s stock worth $4,918,000 after buying an additional 189 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of Eli Lilly and Company by 3.4% in the 3rd quarter. McIlrath & Eck LLC now owns 481 shares of the company’s stock worth $426,000 after buying an additional 16 shares during the period. Virtu Financial LLC raised its position in shares of Eli Lilly and Company by 111.7% in the 3rd quarter. Virtu Financial LLC now owns 6,531 shares of the company’s stock worth $5,786,000 after buying an additional 3,446 shares during the period. Finally, SOA Wealth Advisors LLC. boosted its holdings in Eli Lilly and Company by 2.4% in the third quarter. SOA Wealth Advisors LLC. now owns 864 shares of the company’s stock valued at $766,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were 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 trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LLY shares. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Morgan Stanley dropped their target price on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Guggenheim reduced their price target on shares of Eli Lilly and Company from $973.00 to $928.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,017.00.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $827.87 on Wednesday. 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 has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The business has a 50 day moving average price of $827.10 and a two-hundred day moving average price of $818.99. The firm has a market cap of $784.96 billion, a PE ratio of 70.70, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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.