Ilmarinen Mutual Pension Insurance Co Has $94.65 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 40.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,600 shares of the company's stock after acquiring an additional 35,600 shares during the quarter. Eli Lilly and Company makes up 0.8% of Ilmarinen Mutual Pension Insurance Co's portfolio, making the stock its 15th biggest position. Ilmarinen Mutual Pension Insurance Co's holdings in Eli Lilly and Company were worth $94,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after purchasing an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Garner Asset Management Corp raised its holdings in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the period. Finally, GSG Advisors LLC lifted its position in shares of Eli Lilly and Company by 3.2% in the 4th quarter. GSG Advisors LLC now owns 425 shares of the company's stock worth $328,000 after buying an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

LLY has been the topic of several research reports. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $892.00 to $888.00 in a research report on Tuesday. Finally, Bank of America reaffirmed a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,018.89.

Eli Lilly and Company Price Performance

NYSE LLY traded up $0.19 on Tuesday, reaching $723.92. 3,317,545 shares of the stock traded hands, compared to its average volume of 3,341,069. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company has a market cap of $686.40 billion, a price-to-earnings ratio of 61.82, a P/E/G ratio of 1.40 and a beta of 0.51. The firm's fifty day simple moving average is $846.64 and its 200 day simple moving average is $830.05. 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 (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 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, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $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 is available at the SEC website. Corporate insiders own 0.13% of the company's stock.

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.