Envestnet Asset Management Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Envestnet Asset Management Inc. lifted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 950,336 shares of the company's stock after buying an additional 41,669 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Eli Lilly and Company worth $733,659,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings 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 buying an additional 60,306 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $11,657,000. Temasek Holdings Private Ltd grew its stake in shares of Eli Lilly and Company by 132.1% during the 3rd quarter. Temasek Holdings Private Ltd now owns 70,300 shares of the company's stock valued at $62,282,000 after acquiring an additional 40,017 shares during the period. Weaver Consulting Group lifted its holdings in Eli Lilly and Company by 7.4% during the third quarter. Weaver Consulting Group now owns 635 shares of the company's stock valued at $563,000 after purchasing an additional 44 shares in the last quarter. Finally, Wallace Capital Management Inc. raised its position in shares of Eli Lilly and Company by 9.7% during the 3rd quarter. Wallace Capital Management Inc. now owns 1,130 shares of the company's stock valued at $1,001,000 after purchasing an additional 100 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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Eli Lilly and Company Trading Down 0.9 %

Shares of LLY stock traded down $6.43 on Tuesday, reaching $717.30. 2,938,936 shares of the company's stock were exchanged, compared to its average volume of 3,337,692. The company's fifty day simple moving average is $846.64 and its 200 day simple moving average is $830.05. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $680.12 billion, a PE ratio of 60.99, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly 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, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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 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 sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LLY. Citigroup dropped their target price 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 report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on 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. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,018.89.

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.