Lord Abbett & CO. LLC Sells 233,200 Shares of Eli Lilly and Company (NYSE:LLY)

Lord Abbett & CO. LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 61.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 144,810 shares of the company’s stock after selling 233,200 shares during the period. Lord Abbett & CO. LLC’s holdings in Eli Lilly and Company were worth $111,793,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. Proficio Capital Partners LLC lifted its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Capital International Investors increased its holdings in shares of Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $1,240,653,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 3.8 %

Shares of NYSE LLY opened at $861.11 on Friday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The firm has a market cap of $816.48 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The business has a fifty day simple moving average of $827.14 and a two-hundred day simple moving average of $818.81. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LLY shares. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Morgan Stanley reduced their target price on shares of 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. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,017.00.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.