Employees Retirement System of Texas Raises Position in Eli Lilly and Company (NYSE:LLY)

Employees Retirement System of Texas grew its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,168 shares of the company's stock after purchasing an additional 11,816 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Employees Retirement System of Texas' investment portfolio, making the stock its 23rd biggest position. Employees Retirement System of Texas' holdings in Eli Lilly and Company were worth $158,390,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company's stock valued at $1,070,698,000 after purchasing an additional 60,306 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $11,657,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in Eli Lilly and Company during the third quarter worth about $687,000. Finally, MCIA Inc lifted its stake in Eli Lilly and Company by 6.7% in the 3rd quarter. MCIA Inc now owns 254 shares of the company's stock valued at $208,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $30.25 during trading on Thursday, hitting $723.46. The stock had a trading volume of 2,356,613 shares, compared to its average volume of 3,361,477. 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 12 month low of $677.09 and a 12 month high of $972.53. The firm has a market cap of $685.96 billion, a price-to-earnings ratio of 61.27, a P/E/G ratio of 1.40 and a beta of 0.51. The business's 50-day moving average is $840.79 and its 200 day moving average is $826.23.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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%. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports 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 report on Wednesday, March 5th. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial lifted their price target 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 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,017.67.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

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.