Synovus Financial Corp Has $82.79 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Synovus Financial Corp cut its position in Eli Lilly and Company (NYSE:LLY) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 107,220 shares of the company’s stock after selling 2,773 shares during the quarter. Eli Lilly and Company accounts for 1.1% of Synovus Financial Corp’s investment portfolio, making the stock its 17th largest holding. Synovus Financial Corp’s holdings in Eli Lilly and Company were worth $82,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC increased its stake in shares of 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 buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Eli Lilly and Company during the 4th quarter worth about $1,240,653,000. Finally, Parnassus Investments LLC grew its holdings in Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after acquiring an additional 932,309 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $731.62 on Friday. The stock has a market capitalization of $693.70 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The firm has a fifty day simple moving average of $837.05 and a 200 day simple moving average of $823.46. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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%. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LLY shares. Citigroup reduced their price objective 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. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of 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. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,017.67.

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.