Keystone Investors PTE Ltd. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Keystone Investors PTE Ltd. raised its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 1,657.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,933 shares of the company's stock after acquiring an additional 13,140 shares during the quarter. Eli Lilly and Company makes up approximately 0.8% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 25th largest position. Keystone Investors PTE Ltd.'s holdings in Eli Lilly and Company were worth $10,756,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWA Asset Management Group LLC boosted its holdings in Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after buying an additional 724 shares in the last quarter. Centerpoint Advisory Group purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $514,000. M&T Bank Corp grew its position in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company's stock valued at $236,389,000 after acquiring an additional 1,867 shares during the period. Kentucky Trust Co purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $834,000. Finally, Proficio Capital Partners LLC raised its holdings in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

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Eli Lilly and Company Trading Down 0.2 %

LLY stock traded down $1.37 during trading on Friday, reaching $820.30. 2,124,571 shares of the stock were exchanged, compared to its average volume of 3,309,500. 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 firm has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. The business has a 50 day moving average price of $844.31 and a 200-day moving average price of $836.82. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

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

Eli Lilly and Company announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Citigroup cut their price objective on 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. Bank of America restated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,009.72.

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.