Eli Lilly and Company (NYSE:LLY) Stock Holdings Decreased by Perkins Capital Management Inc.

Perkins Capital Management Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 19.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,910 shares of the company’s stock after selling 2,466 shares during the period. Eli Lilly and Company comprises approximately 6.8% of Perkins Capital Management Inc.’s portfolio, making the stock its 2nd largest holding. Perkins Capital Management Inc.’s holdings in Eli Lilly and Company were worth $7,651,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Principal Financial Group Inc. grew its stake 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 worth $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. Jim Saulnier & Associates LLC bought a new position in Eli Lilly and Company in the third quarter worth approximately $210,000. Truepoint Inc. grew its stake in Eli Lilly and Company by 99.1% in the third quarter. Truepoint Inc. now owns 462 shares of the company’s stock worth $409,000 after purchasing an additional 230 shares in the last quarter. Lane & Associates LLC grew its stake in Eli Lilly and Company by 2.5% in the third quarter. Lane & Associates LLC now owns 2,661 shares of the company’s stock worth $2,358,000 after purchasing an additional 66 shares in the last quarter. Finally, WESPAC Advisors LLC grew its stake in Eli Lilly and Company by 3.5% in the third quarter. WESPAC Advisors LLC now owns 2,459 shares of the company’s stock worth $2,179,000 after purchasing an additional 84 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LLY. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Truist Financial increased 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 report on Monday, February 3rd. Wells Fargo & Company increased their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $839.44 on Monday. The stock has a 50-day moving average of $835.99 and a two-hundred day moving average of $838.30. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market cap of $795.93 billion, a P/E ratio of 71.69, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated 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 owns 5,840 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.13% of the stock is currently owned by insiders.

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.