Eli Lilly and Company (NYSE:LLY) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 387 shares of the company’s stock after selling 28 shares during the quarter. Gallacher Capital Management LLC’s holdings in Eli Lilly and Company were worth $299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. Principal Financial Group Inc. grew its stake in shares of Eli Lilly and Company by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $606,000. WESPAC Advisors SoCal LLC boosted its position in shares of Eli Lilly and Company by 8.4% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 16,676 shares of the company’s stock worth $14,774,000 after buying an additional 1,290 shares in the last quarter. Schear Investment Advisers LLC boosted its position in shares of Eli Lilly and Company by 8.9% in the 3rd quarter. Schear Investment Advisers LLC now owns 8,396 shares of the company’s stock worth $7,438,000 after buying an additional 687 shares in the last quarter. Finally, Beaton Management Co. Inc. boosted its position in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. Beaton Management Co. Inc. now owns 5,747 shares of the company’s stock worth $5,091,000 after buying an additional 15 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 1.5 %

NYSE LLY opened at $813.55 on Monday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a 50-day moving average of $830.81 and a 200-day moving average of $842.50. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market cap of $771.38 billion, a P/E ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup decreased 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 report on Tuesday, January 28th. 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. Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company 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.