Westpac Banking Corp Has $20.11 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Westpac Banking Corp reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,046 shares of the company's stock after selling 2,828 shares during the quarter. Eli Lilly and Company accounts for about 1.3% of Westpac Banking Corp's investment portfolio, making the stock its 8th largest position. Westpac Banking Corp's holdings in Eli Lilly and Company were worth $20,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. FPC Investment Advisory Inc. grew its position in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company in the fourth quarter valued at $48,000. Finally, Compass Financial Services Inc purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

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Analysts Set New Price Targets

LLY has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on 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. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial boosted 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 report on Monday, February 3rd. Citigroup reduced their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,009.72.

Eli Lilly and Company Trading Down 6.5 %

NYSE:LLY traded down $51.53 during trading hours on Friday, hitting $737.56. The company had a trading volume of 5,289,016 shares, compared to its average volume of 3,326,912. 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 50-day moving average price of $848.36 and a 200 day moving average price of $831.93. The company has a market capitalization of $699.33 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has approved a stock 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 buy up to 2% of its shares through open market purchases. Shares buyback programs are usually 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 business's stock in a transaction on 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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

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.