Teachers Retirement System of The State of Kentucky Has $95.69 Million Stake in Eli Lilly and Company (NYSE:LLY)

Teachers Retirement System of The State of Kentucky decreased its position in Eli Lilly and Company (NYSE:LLY) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,687 shares of the company’s stock after selling 4,061 shares during the quarter. Eli Lilly and Company comprises 0.9% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 11th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Eli Lilly and Company were worth $95,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aldebaran Financial Inc. grew its position in Eli Lilly and Company by 17.9% in the second quarter. Aldebaran Financial Inc. now owns 723 shares of the company’s stock worth $655,000 after acquiring an additional 110 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Eli Lilly and Company by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 224,922 shares of the company’s stock valued at $203,641,000 after purchasing an additional 603 shares during the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Eli Lilly and Company by 14.8% in the second quarter. 3Chopt Investment Partners LLC now owns 3,746 shares of the company’s stock worth $3,392,000 after purchasing an additional 483 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in Eli Lilly and Company during the second quarter worth $323,000. Finally, Ted Buchan & Co bought a new position in Eli Lilly and Company during the second quarter valued at about $1,780,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 364,810 shares of company stock worth $339,366,198. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $885.56 on Tuesday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a market capitalization of $841.64 billion, a P/E ratio of 130.42, a P/E/G ratio of 2.78 and a beta of 0.42. The stock has a 50 day moving average of $896.50 and a two-hundred day moving average of $844.99. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

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.