Eli Lilly and Company (NYSE:LLY) Position Reduced by Westpac Banking Corp

Westpac Banking Corp trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,046 shares of the company’s stock after selling 2,828 shares during the quarter. Eli Lilly and Company makes up about 1.3% of Westpac Banking Corp’s portfolio, making the stock its 8th biggest holding. Westpac Banking Corp’s holdings in Eli Lilly and Company were worth $20,108,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FWG Holdings LLC boosted its stake in shares of 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 in the last quarter. Morling Financial Advisors LLC raised its holdings in 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 purchasing an additional 12 shares during the period. Prestige Wealth Management Group LLC raised its holdings in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp boosted its position in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Finally, GSG Advisors LLC grew its holdings in Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after purchasing an additional 13 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.8 %

Shares of NYSE:LLY opened at $819.57 on Thursday. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock has a market cap of $777.09 billion, a P/E ratio of 69.99, a PEG ratio of 1.40 and a beta of 0.34. The business has a fifty day moving average of $848.85 and a two-hundred day moving average of $834.05. 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 data 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 net margin of 23.51% and a return on equity of 85.24%. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup reduced 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 report on Tuesday, January 28th. Finally, Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction 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 sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.