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

Cibc World Markets Corp lifted its stake in Eli Lilly and Company (NYSE:LLY) by 15.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,207 shares of the company’s stock after buying an additional 17,022 shares during the quarter. Cibc World Markets Corp’s holdings in Eli Lilly and Company were worth $96,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LLY. Polen Capital Management LLC lifted its holdings in Eli Lilly and Company by 164.4% during 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 purchasing an additional 805,434 shares in the last quarter. SlateStone Wealth LLC lifted its position in shares of Eli Lilly and Company by 4.2% in the fourth quarter. SlateStone Wealth LLC now owns 3,275 shares of the company’s stock valued at $2,528,000 after acquiring an additional 131 shares in the last quarter. First National Advisers LLC boosted its stake in shares of Eli Lilly and Company by 2.9% in the fourth quarter. First National Advisers LLC now owns 11,852 shares of the company’s stock worth $9,150,000 after acquiring an additional 334 shares during the period. GWN Securities Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $3,726,000. Finally, Altus Wealth Group LLC raised its stake in Eli Lilly and Company by 8.6% during the 4th quarter. Altus Wealth Group LLC now owns 352 shares of the company’s stock valued at $272,000 after purchasing an additional 28 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

Shares of LLY opened at $813.55 on Monday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a market cap of $771.38 billion, a P/E ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34. 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 company’s fifty day simple moving average is $830.81 and its 200-day simple moving average is $842.50.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved 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 purchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LLY shares. Truist Financial upped 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 research note on Monday, February 3rd. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Citigroup lowered their target price 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 report on Tuesday, January 28th. Three equities research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.