Granite Investment Partners LLC Purchases 4,335 Shares of Eli Lilly and Company (NYSE:LLY)

Granite Investment Partners LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,806 shares of the company's stock after purchasing an additional 4,335 shares during the period. Eli Lilly and Company accounts for 1.4% of Granite Investment Partners LLC's portfolio, making the stock its 13th largest holding. Granite Investment Partners LLC's holdings in Eli Lilly and Company were worth $32,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of LLY. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC increased its position in shares of Eli Lilly and Company by 100,387.1% during 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 lifted its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Raymond James Financial Inc. bought a new stake in Eli Lilly and Company in the 4th quarter valued at $1,240,653,000. Finally, Parnassus Investments LLC lifted its holdings in shares of Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company's stock worth $721,590,000 after acquiring an additional 932,309 shares during the period. Institutional investors own 82.53% of the company's stock.

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Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Morgan Stanley dropped their price objective on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.00.

Eli Lilly and Company Trading Down 2.9 %

Shares of Eli Lilly and Company stock traded down $22.33 during trading on Wednesday, hitting $734.85. 3,301,963 shares of the company were exchanged, compared to its average volume of 3,389,995. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $696.76 billion, a P/E ratio of 62.75, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The firm's fifty day moving average price is $832.96 and its 200 day moving average price is $821.54. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.