Eli Lilly and Company (NYSE:LLY) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,312 shares of the company’s stock after selling 1,336 shares during the period. Eli Lilly and Company comprises about 1.6% of Rakuten Securities Inc.’s portfolio, making the stock its 8th biggest holding. Rakuten Securities Inc.’s holdings in Eli Lilly and Company were worth $4,101,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 100,387.1% in 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 purchasing an additional 5,197,038 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $1,240,653,000. Essential Planning LLC. lifted its holdings in shares of Eli Lilly and Company by 6,406.9% during the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares during the period. Integrated Investment Consultants LLC lifted its holdings in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after buying an additional 678,209 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research note on Thursday, March 6th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

LLY opened at $823.95 on Wednesday. The firm has a market capitalization of $781.25 billion, a P/E ratio of 70.36, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The stock’s 50 day moving average price is $828.77 and its two-hundred day moving average price is $845.45. 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 12-month low of $711.40 and a 12-month high of $972.53.

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 analysts’ consensus estimates 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%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.