Delta Asset Management LLC TN Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Delta Asset Management LLC TN decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 654 shares of the company’s stock after selling 77 shares during the quarter. Delta Asset Management LLC TN’s holdings in Eli Lilly and Company were worth $505,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Loomis Sayles & Co. L P increased its position in shares of Eli Lilly and Company by 19.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,227 shares of the company’s stock worth $1,719,000 after purchasing an additional 358 shares during the last quarter. AssuredPartners Investment Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth about $1,583,000. NEOS Investment Management LLC boosted its stake in Eli Lilly and Company by 29.1% during the fourth quarter. NEOS Investment Management LLC now owns 50,540 shares of the company’s stock worth $39,017,000 after buying an additional 11,383 shares during the period. Moment Partners LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $1,063,000. Finally, Sava Infond d.o.o. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $7,419,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other 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 directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $826.84 on Thursday. The stock has a market cap of $783.98 billion, a P/E ratio of 70.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a fifty day simple moving average of $841.16 and a 200-day simple moving average of $837.54. The company has a current ratio of 1.15, a quick ratio of 0.97 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.

Eli Lilly and Company (NYSE:LLY) last posted 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 net margin of 23.51% and a return on equity of 85.24%. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and 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.