Accent Capital Management LLC Has $4.54 Million Position in Eli Lilly and Company (NYSE:LLY)

Accent Capital Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 168.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,886 shares of the company’s stock after purchasing an additional 3,690 shares during the period. Eli Lilly and Company accounts for approximately 2.6% of Accent Capital Management LLC’s portfolio, making the stock its 10th largest position. Accent Capital Management LLC’s holdings in Eli Lilly and Company were worth $4,544,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC boosted its stake in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Raymond James Financial Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth about $1,240,653,000. Parnassus Investments LLC boosted its position 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 valued at $721,590,000 after acquiring an additional 932,309 shares in the last quarter. Finally, Polen Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 164.4% during the 4th quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock worth $1,000,040,000 after acquiring an additional 805,434 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

LLY stock opened at $820.30 on Friday. 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 company has a market cap of $777.78 billion, a P/E ratio of 70.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The stock’s fifty day moving average price is $844.31 and its 200-day moving average price is $836.82.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup dropped their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Truist Financial increased their price target on shares of 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. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.