Parker Investment Management LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Parker Investment Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,304 shares of the company’s stock after selling 61 shares during the quarter. Eli Lilly and Company accounts for approximately 0.6% of Parker Investment Management LLC’s portfolio, making the stock its 17th biggest position. Parker Investment Management LLC’s holdings in Eli Lilly and Company were worth $4,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC boosted its holdings in Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the period. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $514,000. M&T Bank Corp boosted its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares during the period. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $834,000. Finally, Cooper Financial Group increased its stake in Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on LLY. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $828.80 on Tuesday. The company has a fifty day moving average of $827.73 and a two-hundred day moving average of $846.36. The company has a market capitalization of $785.84 billion, a PE ratio of 70.78, 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 company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced 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%. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.