Huntington National Bank Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Huntington National Bank lowered its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,309 shares of the company's stock after selling 11,140 shares during the quarter. Eli Lilly and Company comprises approximately 1.6% of Huntington National Bank's portfolio, making the stock its 13th biggest position. Huntington National Bank's holdings in Eli Lilly and Company were worth $221,031,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Private Portfolio Partners LLC boosted its stake in Eli Lilly and Company by 16.8% in the 4th quarter. Private Portfolio Partners LLC now owns 3,189 shares of the company's stock worth $2,462,000 after purchasing an additional 459 shares in the last quarter. Kesler Norman & Wride LLC raised its holdings in Eli Lilly and Company by 18.9% in the fourth quarter. Kesler Norman & Wride LLC now owns 4,774 shares of the company's stock worth $3,685,000 after buying an additional 760 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $2,071,000. Meeder Advisory Services Inc. grew its holdings in shares of Eli Lilly and Company by 3.4% during the fourth quarter. Meeder Advisory Services Inc. now owns 16,302 shares of the company's stock valued at $12,585,000 after buying an additional 541 shares during the last quarter. Finally, Groupama Asset Managment grew its holdings in shares of Eli Lilly and Company by 3.8% during the fourth quarter. Groupama Asset Managment now owns 91,838 shares of the company's stock valued at $71,068,000 after buying an additional 3,373 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other 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 sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LLY. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Bank of America reiterated a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three equities 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $14.34 during trading on Wednesday, reaching $819.57. The company's stock had a trading volume of 2,678,114 shares, compared to its average volume of 3,311,810. The firm has a market cap of $777.09 billion, a PE ratio of 69.99, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a 50-day moving average price of $848.85 and a two-hundred day moving average price of $834.05. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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%. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.