Capital World Investors Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Capital World Investors lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,552,507 shares of the company’s stock after selling 803,439 shares during the quarter. Eli Lilly and Company comprises about 2.3% of Capital World Investors’ portfolio, making the stock its 6th largest holding. Capital World Investors owned approximately 2.06% of Eli Lilly and Company worth $15,094,648,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. Norges Bank acquired a new position in Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC increased its position in 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 worth $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors grew its holdings in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $1,240,653,000. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley cut their price objective on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased 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 report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.00.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $841.70 on Friday. The company has a market capitalization of $798.08 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The company’s 50-day moving average is $829.09 and its 200 day moving average is $820.35. 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 fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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%. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current 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.