TD Asset Management Inc. Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

TD Asset Management Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,257,737 shares of the company’s stock after selling 105,653 shares during the period. Eli Lilly and Company comprises approximately 0.9% of TD Asset Management Inc.’s investment portfolio, making the stock its 24th biggest holding. TD Asset Management Inc. owned approximately 0.13% of Eli Lilly and Company worth $970,973,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Highline Wealth Partners LLC grew its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. FPC Investment Advisory Inc. boosted its stake in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $50,000. Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $58,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eli Lilly and Company during the third quarter worth $93,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $865.94 on Tuesday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The business’s 50 day moving average price is $837.36 and its 200 day moving average price is $837.97. 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 firm has a market cap of $821.06 billion, a P/E ratio of 73.95, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. 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 for the company in a report on Tuesday, January 28th. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

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.