GQG Partners LLC Has $3.50 Billion Stake in Eli Lilly and Company (NYSE:LLY)

GQG Partners LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,534,964 shares of the company's stock after selling 275,876 shares during the period. Eli Lilly and Company comprises about 5.2% of GQG Partners LLC's portfolio, making the stock its 3rd largest holding. GQG Partners LLC owned 0.48% of Eli Lilly and Company worth $3,500,992,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Princeton Capital Management LLC boosted its holdings in shares of Eli Lilly and Company by 3.3% in the fourth quarter. Princeton Capital Management LLC now owns 15,402 shares of the company's stock worth $11,890,000 after buying an additional 496 shares during the period. EFG Asset Management North America Corp. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $2,599,000. Prospect Financial Group LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth approximately $348,000. Modern Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 50.7% during the fourth quarter. Modern Wealth Management LLC now owns 12,025 shares of the company's stock valued at $9,283,000 after buying an additional 4,045 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $733,000. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LLY. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Bank of America reissued a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup decreased 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 research report on Tuesday, January 28th. Finally, Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,009.72.

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Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY traded down $6.91 during trading hours on Thursday, reaching $819.85. 1,060,300 shares of the company's stock were exchanged, compared to its average volume of 3,145,757. The firm has a fifty day moving average of $841.16 and a 200-day moving average of $837.54. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock has a market cap of $777.36 billion, a PE ratio of 69.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its 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%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.