Frazier Financial Advisors LLC Has $403,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

Frazier Financial Advisors LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 521 shares of the company’s stock after selling 32 shares during the period. Frazier Financial Advisors LLC’s holdings in Eli Lilly and Company were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of LLY. Boussard & Gavaudan Investment Management LLP acquired a new position in Eli Lilly and Company during the fourth quarter worth $38,692,000. X Square Capital LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at about $317,000. New Age Alpha Advisors LLC acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $9,866,000. Providence Capital Advisors LLC raised its holdings in Eli Lilly and Company by 3.5% during the 4th quarter. Providence Capital Advisors LLC now owns 507 shares of the company’s stock worth $391,000 after purchasing an additional 17 shares during the last quarter. Finally, Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth about $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. 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 for the company in a research report on Tuesday, January 28th. Truist Financial lifted their target price on shares of 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. Wells Fargo & Company increased their price target on 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. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Price Performance

Shares of LLY opened at $822.14 on Friday. The firm has a market capitalization of $779.52 billion, a PE ratio of 70.21, a PEG ratio of 1.40 and a beta of 0.34. 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 fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company’s 50-day moving average is $842.43 and its 200-day moving average is $837.43.

Eli Lilly and Company (NYSE:LLY) last issued 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 net margin of 23.51% and a return on equity of 85.24%. Equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.