Eli Lilly and Company (NYSE:LLY) Shares Sold by Cascades Capital Asset Management LLC

Cascades Capital Asset Management LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,618 shares of the company’s stock after selling 43 shares during the quarter. Eli Lilly and Company comprises 1.1% of Cascades Capital Asset Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Cascades Capital Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Eli Lilly and Company by 5.3% in the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after buying an additional 60,306 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Eli Lilly and Company during the third quarter worth $11,657,000. Temasek Holdings Private Ltd increased its position in shares of Eli Lilly and Company by 132.1% in the third quarter. Temasek Holdings Private Ltd now owns 70,300 shares of the company’s stock valued at $62,282,000 after buying an additional 40,017 shares in the last quarter. Weaver Consulting Group boosted its position in shares of Eli Lilly and Company by 7.4% in the 3rd quarter. Weaver Consulting Group now owns 635 shares of the company’s stock worth $563,000 after buying an additional 44 shares in the last quarter. Finally, Wallace Capital Management Inc. grew its stake in Eli Lilly and Company by 9.7% in the 3rd quarter. Wallace Capital Management Inc. now owns 1,130 shares of the company’s stock valued at $1,001,000 after acquiring an additional 100 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $737.56 on Friday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm’s 50 day moving average is $848.36 and its two-hundred day moving average is $832.44. The company has a market cap of $699.33 billion, a P/E ratio of 62.99, a P/E/G 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.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results 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%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The shares were 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 owns 5,840 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LLY shares. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial upped their target price on 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. Citigroup dropped 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. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company boosted 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. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

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.