Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 4,188 Shares of Eli Lilly and Company (NYSE:LLY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 167,538 shares of the company’s stock after selling 4,188 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 21st largest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Eli Lilly and Company were worth $129,339,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LLY. CWA Asset Management Group LLC raised its stake in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company in the 4th quarter worth approximately $514,000. M&T Bank Corp raised its position in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $834,000. Finally, Cooper Financial Group boosted its holdings in shares of Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $837.34 on Thursday. The stock has a market capitalization of $793.94 billion, a P/E ratio of 71.51, a P/E/G ratio of 1.40 and a beta of 0.34. The company’s fifty day moving average price is $834.04 and its 200 day moving average price is $840.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its 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, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred 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 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. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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.