Eli Lilly and Company (NYSE:LLY) Stock Holdings Trimmed by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,200 shares of the company’s stock after selling 2,359 shares during the period. Eli Lilly and Company comprises 0.5% of Wedbush Securities Inc.’s portfolio, making the stock its 23rd largest position. Wedbush Securities Inc.’s holdings in Eli Lilly and Company were worth $14,050,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after buying an additional 60,306 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Eli Lilly and Company in the third quarter worth about $11,657,000. Temasek Holdings Private Ltd boosted its stake in 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 acquiring an additional 40,017 shares during the period. Weaver Consulting Group grew its holdings in shares of Eli Lilly and Company by 7.4% during the third quarter. Weaver Consulting Group now owns 635 shares of the company’s stock valued at $563,000 after purchasing an additional 44 shares during the last quarter. Finally, Wallace Capital Management Inc. raised its position in shares of Eli Lilly and Company by 9.7% during the 3rd quarter. Wallace Capital Management Inc. now owns 1,130 shares of the company’s stock worth $1,001,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $737.56 on Friday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $699.33 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company’s 50-day moving average price is $848.36 and its two-hundred day moving average price is $832.44.

Eli Lilly and Company (NYSE:LLY) last released 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 anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock 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 report on Friday, February 7th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company raised 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 research note on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity

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 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 directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

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.