Eli Lilly and Company (NYSE:LLY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,266,687 shares of the company’s stock after selling 82,471 shares during the period. Eli Lilly and Company comprises 1.0% of New York State Common Retirement Fund’s investment portfolio, making the stock its 11th largest position. New York State Common Retirement Fund’s holdings in Eli Lilly and Company were worth $738,377,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LLY. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth $27,000. Legacy Financial Group LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter worth $35,000. Optiver Holding B.V. acquired a new position in Eli Lilly and Company in the 3rd quarter worth $36,000. Finally, Family CFO Inc purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY stock traded up $5.01 during mid-day trading on Monday, reaching $731.32. The company had a trading volume of 2,352,768 shares, compared to its average volume of 3,064,126. Eli Lilly and Company has a one year low of $370.68 and a one year high of $800.78. The stock has a market capitalization of $694.87 billion, a P/E ratio of 125.45, a P/E/G ratio of 1.58 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The stock’s 50-day simple moving average is $763.96 and its two-hundred day simple moving average is $661.44.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the business posted $2.09 EPS. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. Research analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current year.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Truist Financial reiterated a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Barclays raised their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Bank of America upped their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

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.