Howe & Rusling Inc. Trims Position in Eli Lilly and Company (NYSE:LLY)

Howe & Rusling Inc. lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 371 shares of the company’s stock after selling 35 shares during the period. Howe & Rusling Inc.’s holdings in Eli Lilly and Company were worth $286,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Raymond James Financial Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $1,240,653,000. Parnassus Investments LLC increased its position in Eli Lilly and Company by 38,959.8% during 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 raised its stake in Eli Lilly and Company by 164.4% during 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 period. Finally, Essential Planning LLC. boosted its holdings in shares of Eli Lilly and Company by 6,406.9% in the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock valued at $593,544,000 after purchasing an additional 705,076 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s 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 of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research analyst reports. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Citigroup cut their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Truist Financial increased their target price 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 report on Monday, February 3rd. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Bank of America reiterated 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. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $822.14 on Friday. The firm has a market cap of $779.52 billion, a price-to-earnings ratio of 70.21, a PEG ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $842.43 and its two-hundred day moving average is $837.43. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 net margin of 23.51% and a return on equity of 85.24%. 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 has initiated a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management 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.