Invesco Ltd. Sells 7,993 Shares of Eli Lilly and Company (NYSE:LLY)

Invesco Ltd. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 3,672,815 shares of the company’s stock after selling 7,993 shares during the period. Eli Lilly and Company makes up 0.5% of Invesco Ltd.’s holdings, making the stock its 15th largest holding. Invesco Ltd.’s holdings in Eli Lilly and Company were worth $2,835,413,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. FWG Holdings LLC grew its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC boosted its stake in shares of Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp grew its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Finally, GSG Advisors LLC lifted its stake in Eli Lilly and Company by 3.2% in the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after purchasing an additional 13 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE LLY opened at $737.56 on Monday. The firm’s fifty day simple moving average is $848.36 and its two-hundred day simple moving average is $831.41. The firm has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51. 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 $692.96 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup decreased their price target 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. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insiders Place Their Bets

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 transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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.