Van ECK Associates Corp Acquires 12,447 Shares of Eli Lilly and Company (NYSE:LLY)

Van ECK Associates Corp grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 222,001 shares of the company’s stock after buying an additional 12,447 shares during the quarter. Van ECK Associates Corp’s holdings in Eli Lilly and Company were worth $129,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LLY. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Eli Lilly and Company by 3.6% during the 3rd quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after purchasing an additional 355,317 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 61,268.8% during 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 purchasing an additional 7,330,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Eli Lilly and Company by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,435,311 shares of the company’s stock valued at $2,382,339,000 after purchasing an additional 88,016 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Cantor Fitzgerald reiterated an “overweight” rating and set a $815.00 price objective on shares of Eli Lilly and Company in a report on Monday, April 15th. Bank of America raised their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Morgan Stanley raised their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Barclays lifted their price objective on 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 analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $35.16 on Tuesday, hitting $772.36. 4,330,841 shares of the company were exchanged, compared to its average volume of 3,031,323. The stock has a market capitalization of $733.87 billion, a price-to-earnings ratio of 134.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34. The company has a 50-day moving average price of $760.89 and a 200 day moving average price of $668.00. Eli Lilly and Company has a 1-year low of $392.26 and a 1-year high of $800.78. 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 (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. As a group, sell-side analysts predict that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

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.