Vestcor Inc Trims Stake in Eli Lilly and Company (NYSE:LLY)

Vestcor Inc lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,764 shares of the company’s stock after selling 1,607 shares during the period. Eli Lilly and Company makes up about 1.2% of Vestcor Inc’s investment portfolio, making the stock its 7th largest position. Vestcor Inc’s holdings in Eli Lilly and Company were worth $35,330,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LLY. Principal Financial Group Inc. boosted its stake in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after buying an additional 60,306 shares during the period. GSA Capital Partners LLP purchased a new position in Eli Lilly and Company during the third quarter worth $606,000. Carrera Capital Advisors purchased a new position in Eli Lilly and Company during the third quarter worth $244,000. Moser Wealth Advisors LLC boosted its stake in Eli Lilly and Company by 40.0% during the third quarter. Moser Wealth Advisors LLC now owns 455 shares of the company’s stock worth $403,000 after buying an additional 130 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in Eli Lilly and Company by 4.3% during the third quarter. Empower Advisory Group LLC now owns 139,274 shares of the company’s stock worth $123,388,000 after buying an additional 5,682 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LLY shares. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company boosted their target price 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. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Finally, Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Down 0.2 %

NYSE:LLY opened at $822.26 on Thursday. The firm has a market cap of $779.64 billion, a PE ratio of 70.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. 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 company has a 50-day moving average of $829.78 and a 200 day moving average of $845.29. 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 announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

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.