Eli Lilly and Company (NYSE:LLY) Stake Decreased by Prudential PLC

Prudential PLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 68,372 shares of the company’s stock after selling 7,681 shares during the quarter. Eli Lilly and Company comprises about 0.3% of Prudential PLC’s portfolio, making the stock its 26th biggest holding. Prudential PLC’s holdings in Eli Lilly and Company were worth $52,783,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. increased its stake in Eli Lilly and Company by 200.9% during the 4th quarter. Landscape Capital Management L.L.C. now owns 4,919 shares of the company’s stock valued at $3,797,000 after buying an additional 3,284 shares during the period. PAX Financial Group LLC boosted its holdings in shares of Eli Lilly and Company by 19.6% in the fourth quarter. PAX Financial Group LLC now owns 1,020 shares of the company’s stock valued at $787,000 after acquiring an additional 167 shares in the last quarter. Astra Wealth Partners LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $202,000. Wescott Financial Advisory Group LLC raised its holdings in Eli Lilly and Company by 1.1% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 9,381 shares of the company’s stock worth $7,242,000 after purchasing an additional 98 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in Eli Lilly and Company by 7.7% in the fourth quarter. Thoroughbred Financial Services LLC now owns 20,792 shares of the company’s stock worth $16,051,000 after purchasing an additional 1,487 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Citigroup dropped their price target 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. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value 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. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 3.6 %

LLY stock opened at $788.62 on Friday. The company has a 50 day moving average of $849.30 and a two-hundred day moving average of $833.74. The company has a market cap of $747.75 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. 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 released 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, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

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.