Pinebridge Investments L.P. Reduces Position in Eli Lilly and Company (NYSE:LLY)

Pinebridge Investments L.P. lowered its position in Eli Lilly and Company (NYSE:LLY) by 40.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,202 shares of the company’s stock after selling 57,194 shares during the quarter. Pinebridge Investments L.P.’s holdings in Eli Lilly and Company were worth $65,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its position in Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after acquiring an additional 60,306 shares during the period. Invst LLC grew its stake in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Invst LLC now owns 5,552 shares of the company’s stock valued at $4,918,000 after purchasing an additional 189 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Eli Lilly and Company by 3.4% in the 3rd quarter. McIlrath & Eck LLC now owns 481 shares of the company’s stock valued at $426,000 after purchasing an additional 16 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Eli Lilly and Company by 111.7% in the third quarter. Virtu Financial LLC now owns 6,531 shares of the company’s stock valued at $5,786,000 after purchasing an additional 3,446 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in shares of Eli Lilly and Company by 2.4% during the third quarter. SOA Wealth Advisors LLC. now owns 864 shares of the company’s stock worth $766,000 after purchasing an additional 20 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. Citigroup dropped their price objective 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 research note on Tuesday, January 28th. Guggenheim cut their price target on shares of Eli Lilly and Company from $973.00 to $928.00 and set a “buy” rating for the company in a report on Monday, April 14th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,017.00.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $827.87 on Wednesday. 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 has a market capitalization of $784.96 billion, a P/E ratio of 70.70, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The firm has a 50-day moving average price of $827.10 and a two-hundred day moving average price of $818.99. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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.