Eli Lilly and Company (NYSE:LLY) Position Cut by Huntington National Bank

Huntington National Bank lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 286,309 shares of the company’s stock after selling 11,140 shares during the period. Eli Lilly and Company accounts for 1.6% of Huntington National Bank’s portfolio, making the stock its 13th biggest holding. Huntington National Bank’s holdings in Eli Lilly and Company were worth $221,031,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Portfolio Partners LLC grew its position in Eli Lilly and Company by 16.8% in the 4th quarter. Private Portfolio Partners LLC now owns 3,189 shares of the company’s stock worth $2,462,000 after purchasing an additional 459 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in Eli Lilly and Company by 18.9% in the 4th quarter. Kesler Norman & Wride LLC now owns 4,774 shares of the company’s stock worth $3,685,000 after buying an additional 760 shares in the last quarter. RFG Bristol Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $2,071,000. Meeder Advisory Services Inc. increased its position in Eli Lilly and Company by 3.4% in the 4th quarter. Meeder Advisory Services Inc. now owns 16,302 shares of the company’s stock valued at $12,585,000 after acquiring an additional 541 shares during the period. Finally, Groupama Asset Managment raised its stake in Eli Lilly and Company by 3.8% during the 4th quarter. Groupama Asset Managment now owns 91,838 shares of the company’s stock valued at $71,068,000 after acquiring an additional 3,373 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 2.7 %

LLY stock opened at $803.70 on Wednesday. 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 firm has a market capitalization of $762.04 billion, a P/E ratio of 68.63, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company’s 50 day simple moving average is $847.53 and its 200-day simple moving average is $834.15.

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

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

Insider Buying and Selling

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 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 $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LLY. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.