Eli Lilly and Company (NYSE:LLY) Shares Purchased by abrdn plc

abrdn plc increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,098,115 shares of the company’s stock after purchasing an additional 67,421 shares during the period. Eli Lilly and Company accounts for approximately 1.4% of abrdn plc’s investment portfolio, making the stock its 7th biggest position. abrdn plc owned approximately 0.12% of Eli Lilly and Company worth $640,113,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $3,416,206,000. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Eli Lilly and Company by 102,752.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock valued at $1,992,374,000 after acquiring an additional 5,440,731 shares during the last quarter. Morgan Stanley raised its holdings in Eli Lilly and Company by 44.1% in the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after acquiring an additional 3,691,436 shares during the last quarter. Finally, Imprint Wealth LLC raised its holdings in Eli Lilly and Company by 53,716.8% in the 2nd quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock valued at $175,120,000 after acquiring an additional 1,747,946 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $645.07, for a total value of $34,854,422.24. Following the sale, the insider now directly owns 99,488,598 shares in the company, valued at approximately $64,177,109,911.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Morgan Stanley increased their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Bank of America increased their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays increased their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Stock Down 2.6 %

LLY stock traded down $19.64 during midday trading on Friday, hitting $726.31. The company’s stock had a trading volume of 3,505,526 shares, compared to its average volume of 2,202,924. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 52-week low of $369.76 and a 52-week high of $800.78. The firm has a market capitalization of $690.11 billion, a P/E ratio of 125.23, a PEG ratio of 1.63 and a beta of 0.34. The firm has a 50-day simple moving average of $763.96 and a 200-day simple moving average of $659.59.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the company posted $2.09 EPS. The firm’s revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts forecast that Eli Lilly and Company will post 12.52 EPS for the current year.

About Eli Lilly and Company

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.