Clearbridge Investments LLC Has $844.64 Million Position in Eli Lilly and Company (NYSE:LLY)

Clearbridge Investments LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,094,096 shares of the company’s stock after selling 67,578 shares during the quarter. Eli Lilly and Company makes up about 0.7% of Clearbridge Investments LLC’s holdings, making the stock its 24th biggest position. Clearbridge Investments LLC’s holdings in Eli Lilly and Company were worth $844,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the period. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $50,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $58,000. 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 firm’s stock in a transaction that occurred on 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. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on LLY shares. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. 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, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $820.30 on Friday. The stock has a market capitalization of $777.78 billion, a PE ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a fifty day simple moving average of $844.31 and a 200 day simple moving average of $836.37. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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, research analysts expect 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 stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership 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.