KLP Kapitalforvaltning AS Invests $223.05 Million in Eli Lilly and Company (NYSE:LLY)

KLP Kapitalforvaltning AS purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 288,919 shares of the company's stock, valued at approximately $223,045,000. Eli Lilly and Company accounts for 1.1% of KLP Kapitalforvaltning AS's holdings, making the stock its 11th biggest position.

A number of other large investors have also added to or reduced their stakes in LLY. Proficio Capital Partners LLC increased its stake in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth $1,240,653,000. Parnassus Investments LLC raised its stake in shares of Eli Lilly and Company by 38,959.8% in the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company's stock valued at $721,590,000 after buying an additional 932,309 shares during the period. Polen Capital Management LLC lifted its position in shares of Eli Lilly and Company by 164.4% during the 4th quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company's stock valued at $1,000,040,000 after buying an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. grew its stake in shares of Eli Lilly and Company by 6,406.9% during the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company's stock worth $593,544,000 after acquiring an additional 705,076 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 1.5 %

Shares of LLY traded down $12.55 during mid-day trading on Tuesday, reaching $852.35. The company's stock had a trading volume of 2,669,339 shares, compared to its average volume of 3,154,641. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market cap of $808.17 billion, a PE ratio of 72.79, a P/E/G ratio of 1.40 and a beta of 0.34. The company's fifty day moving average price is $839.56 and its two-hundred day moving average price is $837.61. 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 (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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, 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 approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial raised their price target 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. Citigroup decreased their price objective on 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. Finally, Wells Fargo & Company lifted their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,009.72.

Insider Activity at Eli Lilly and Company

In related 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 transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

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.