First American Trust FSB Reduces Stake in Eli Lilly and Company (NYSE:LLY)

First American Trust FSB lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,130 shares of the company’s stock after selling 376 shares during the period. Eli Lilly and Company makes up approximately 2.2% of First American Trust FSB’s portfolio, making the stock its 7th largest position. First American Trust FSB’s holdings in Eli Lilly and Company were worth $22,490,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Garner Asset Management Corp grew its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after acquiring an additional 12 shares in the last quarter. FWG Holdings LLC grew its stake in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC increased its holdings in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after purchasing an additional 12 shares during the period. GSG Advisors LLC raised its position in Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after purchasing an additional 13 shares in the last quarter. Finally, IMZ Advisory Inc lifted its stake in Eli Lilly and Company by 2.0% in the fourth quarter. IMZ Advisory Inc now owns 662 shares of the company’s stock worth $511,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $865.94 on Tuesday. The firm’s fifty day moving average is $837.36 and its two-hundred day moving average is $837.97. 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 debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 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%. Research analysts expect 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 initiated a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on LLY shares. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Citigroup reduced their price objective 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. Bank of America restated 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. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.