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

Parker Investment Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,304 shares of the company’s stock after selling 61 shares during the period. Eli Lilly and Company makes up 0.6% of Parker Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. Parker Investment Management LLC’s holdings in Eli Lilly and Company were worth $4,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. boosted its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $50,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on LLY shares. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. 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 report on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Finally, Citigroup lowered their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Trading Down 4.7 %

Shares of LLY opened at $828.80 on Tuesday. 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 has a 1-year low of $711.40 and a 1-year high of $972.53. The stock has a market cap of $785.84 billion, a price-to-earnings ratio of 70.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm has a 50 day simple moving average of $827.73 and a 200-day simple moving average of $846.36.

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

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

Eli Lilly and Company 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.