Cibc World Markets Corp Buys 17,022 Shares of Eli Lilly and Company (NYSE:LLY)

Cibc World Markets Corp boosted its stake in Eli Lilly and Company (NYSE:LLY) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,207 shares of the company’s stock after acquiring an additional 17,022 shares during the period. Cibc World Markets Corp’s holdings in Eli Lilly and Company were worth $96,660,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LLY. Proficio Capital Partners LLC boosted its holdings in 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 acquiring an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $1,240,653,000. Parnassus Investments LLC boosted its holdings in Eli Lilly and Company by 38,959.8% in the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after acquiring an additional 932,309 shares during the last quarter. Polen Capital Management LLC boosted its holdings in Eli Lilly and Company by 164.4% in the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock valued at $1,000,040,000 after acquiring an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. boosted its holdings in shares of Eli Lilly and Company by 6,406.9% during the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after buying an additional 705,076 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $813.55 on Monday. The stock has a market cap of $771.38 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 1.40 and a beta of 0.34. The business’s fifty day moving average is $830.81 and its 200 day moving average is $842.50. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. 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 quarterly 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%. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LLY shares. Wells Fargo & Company increased their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. 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 report on Tuesday, January 28th. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Finally, Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Three equities research 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 stock has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.