Eli Lilly and Company (NYSE:LLY) Stake Lifted by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 1.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 790,778 shares of the company’s stock after buying an additional 14,927 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.08% of Eli Lilly and Company worth $610,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC increased its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Capital International Investors boosted its position in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

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

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $827.87 on Wednesday. The stock’s fifty day simple moving average is $827.10 and its 200 day simple moving average is $818.99. The stock has a market capitalization of $784.96 billion, a price-to-earnings ratio of 70.70, a PEG ratio of 1.40 and a beta of 0.51. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim cut their price objective on shares of Eli Lilly and Company from $973.00 to $928.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Truist Financial raised their target price 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. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,017.00.

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.