Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 454,247 shares of the company’s stock after selling 23,916 shares during the period. Eli Lilly and Company accounts for approximately 0.8% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 13th biggest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Eli Lilly and Company were worth $350,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Florida Financial Advisors LLC lifted its holdings in Eli Lilly and Company by 76.4% in the 4th quarter. Florida Financial Advisors LLC now owns 1,337 shares of the company’s stock valued at $1,032,000 after purchasing an additional 579 shares in the last quarter. Aire Advisors LLC grew its holdings in shares of Eli Lilly and Company by 6.7% during the fourth quarter. Aire Advisors LLC now owns 2,110 shares of the company’s stock worth $1,629,000 after buying an additional 132 shares in the last quarter. Baxter Bros Inc. raised its position in shares of Eli Lilly and Company by 9.0% in the fourth quarter. Baxter Bros Inc. now owns 2,157 shares of the company’s stock valued at $1,665,000 after buying an additional 179 shares during the last quarter. Keystone Investors PTE Ltd. boosted its position in Eli Lilly and Company by 1,657.0% during the fourth quarter. Keystone Investors PTE Ltd. now owns 13,933 shares of the company’s stock worth $10,756,000 after acquiring an additional 13,140 shares during the last quarter. Finally, Bay Capital Advisors LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth about $1,179,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

LLY opened at $865.94 on Tuesday. The stock’s 50-day moving average price is $837.36 and its 200 day moving average price is $837.97. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market cap of $821.06 billion, a price-to-earnings ratio of 73.95, a PEG ratio of 1.40 and a beta of 0.34. 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 issued its quarterly 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side 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 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s 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 represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Wells Fargo & Company boosted 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 research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.