Bank of Montreal Can Sells 193,465 Shares of Eli Lilly and Company (NYSE:LLY)

Bank of Montreal Can reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,662,993 shares of the company’s stock after selling 193,465 shares during the period. Bank of Montreal Can owned about 0.18% of Eli Lilly and Company worth $1,283,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bell Asset Management Ltd acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $4,352,000. Sierra Summit Advisors LLC increased its holdings in Eli Lilly and Company by 19.4% in the fourth quarter. Sierra Summit Advisors LLC now owns 10,856 shares of the company’s stock valued at $8,381,000 after purchasing an additional 1,767 shares during the period. Trek Financial LLC raised its position in Eli Lilly and Company by 20.4% during the 4th quarter. Trek Financial LLC now owns 2,296 shares of the company’s stock worth $1,773,000 after purchasing an additional 389 shares during the last quarter. Polymer Capital Management HK LTD grew its position in shares of Eli Lilly and Company by 891.6% in the 4th quarter. Polymer Capital Management HK LTD now owns 4,958 shares of the company’s stock valued at $3,828,000 after buying an additional 4,458 shares during the last quarter. Finally, Edgewood Management LLC increased its stake in shares of Eli Lilly and Company by 13.0% in the fourth quarter. Edgewood Management LLC now owns 2,547,982 shares of the company’s stock valued at $1,967,042,000 after buying an additional 292,150 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LLY. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Citigroup lowered their target price on 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. Wells Fargo & Company increased their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Trading Down 6.5 %

Shares of Eli Lilly and Company stock opened at $737.56 on Monday. The company has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The stock has a fifty day simple moving average of $848.36 and a 200 day simple moving average of $831.41. Eli Lilly and Company has a 12-month low of $692.96 and a 12-month high of $972.53. 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 (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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.