Eli Lilly and Company (NYSE:LLY) Position Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in Eli Lilly and Company (NYSE:LLY) by 42.2% during the fourth quarter, Holdings Channel reports. The firm owned 302,413 shares of the company’s stock after purchasing an additional 89,802 shares during the period. Eli Lilly and Company makes up 0.8% of Teacher Retirement System of Texas’ portfolio, making the stock its 12th largest holding. Teacher Retirement System of Texas’ holdings in Eli Lilly and Company were worth $233,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after acquiring an additional 60,306 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Eli Lilly and Company by 29.2% in the 3rd quarter. Quest Partners LLC now owns 1,053 shares of the company’s stock valued at $933,000 after purchasing an additional 238 shares during the period. Prospera Private Wealth LLC lifted its position in shares of Eli Lilly and Company by 5,387.8% in the third quarter. Prospera Private Wealth LLC now owns 18,384 shares of the company’s stock worth $16,287,000 after purchasing an additional 18,049 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $10,115,000. Finally, Strategy Asset Managers LLC grew its position in Eli Lilly and Company by 132.9% during the third quarter. Strategy Asset Managers LLC now owns 15,929 shares of the company’s stock valued at $14,112,000 after purchasing an additional 9,091 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

LLY opened at $837.34 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $834.04 and its two-hundred day moving average price is $840.69. The firm has a market capitalization of $793.94 billion, a P/E ratio of 71.51, 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.

Eli Lilly and Company (NYSE:LLY) last announced 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 return on equity of 85.24% and a net margin of 23.51%. On average, equities analysts forecast 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 share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related 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 value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average 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.