Meiji Yasuda Asset Management Co Ltd. Sells 638 Shares of Eli Lilly and Company (NYSE:LLY)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,399 shares of the company’s stock after selling 638 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 21st largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Eli Lilly and Company were worth $20,380,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the period. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $50,000. Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $58,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Eli Lilly and Company during the third quarter valued at $93,000. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company 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 completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $865.94 on Tuesday. The company has a fifty day simple moving average of $837.36 and a 200-day simple moving average of $837.97. The stock has a market cap of $821.06 billion, a P/E ratio of 73.95, a price-to-earnings-growth 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 current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Wells Fargo & Company lifted their price target 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. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, 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.