Eli Lilly and Company (NYSE:LLY) Shares Sold by Cascades Capital Asset Management LLC

Cascades Capital Asset Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,618 shares of the company’s stock after selling 43 shares during the period. Eli Lilly and Company comprises about 1.1% of Cascades Capital Asset Management LLC’s holdings, making the stock its 23rd largest position. Cascades Capital Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,021,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LLY. CWA Asset Management Group LLC increased its position in 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 buying an additional 724 shares during the period. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $514,000. M&T Bank Corp grew its position in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $834,000. Finally, Proficio Capital Partners LLC lifted its position in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 6.5 %

Shares of NYSE LLY opened at $737.56 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34. The business has a fifty day simple moving average of $848.36 and a 200-day simple moving average of $832.44.

Eli Lilly and Company (NYSE:LLY) last posted 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%. Sell-side analysts predict 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 share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This 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 is available at this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Truist Financial boosted 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 report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to 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.