Aviva PLC Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Aviva PLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 494,111 shares of the company’s stock after selling 18,921 shares during the quarter. Eli Lilly and Company accounts for approximately 1.0% of Aviva PLC’s investment portfolio, making the stock its 13th largest position. Aviva PLC owned 0.05% of Eli Lilly and Company worth $381,454,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mizuho Bank Ltd. purchased a new position in Eli Lilly and Company in the fourth quarter worth about $154,000. Gladstone Capital Management LLP purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $18,142,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $192,435,000. Pioneer Trust Bank N A OR boosted its holdings in shares of Eli Lilly and Company by 17.2% in the 4th quarter. Pioneer Trust Bank N A OR now owns 10,754 shares of the company’s stock worth $8,302,000 after purchasing an additional 1,579 shares during the period. Finally, Leeward Financial Partners LLC increased its position in shares of Eli Lilly and Company by 51.9% during the 4th quarter. Leeward Financial Partners LLC now owns 6,422 shares of the company’s stock valued at $4,958,000 after purchasing an additional 2,195 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 6.5 %

Shares of Eli Lilly and Company stock opened at $737.56 on Friday. 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 stock has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34. The firm’s 50-day moving average is $848.36 and its two-hundred day moving average is $832.44. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated 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 $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Wells Fargo & Company upped 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. Truist Financial raised their price objective 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. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

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.