Columbia Asset Management Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Columbia Asset Management lowered its stake in Eli Lilly and Company (NYSE:LLY) by 14.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,072 shares of the company’s stock after selling 1,417 shares during the quarter. Eli Lilly and Company makes up about 1.1% of Columbia Asset Management’s holdings, making the stock its 21st biggest position. Columbia Asset Management’s holdings in Eli Lilly and Company were worth $6,232,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. FPC Investment Advisory Inc. boosted its position 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 worth $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $48,000. Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter valued at $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the 4th 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 dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $803.70 on Wednesday. The firm has a market capitalization of $762.04 billion, a PE ratio of 68.63, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock’s 50 day moving average price is $847.53 and its 200 day moving average price is $834.15. 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 (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 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, sell-side 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 authorized a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Truist Financial upped their price objective on shares of 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. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on shares of 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. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company 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.