Lone Pine Capital LLC Invests $604.37 Million in Eli Lilly and Company (NYSE:LLY)

Lone Pine Capital LLC bought a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 782,860 shares of the company's stock, valued at approximately $604,368,000. Eli Lilly and Company comprises about 4.5% of Lone Pine Capital LLC's portfolio, making the stock its 9th biggest position. Lone Pine Capital LLC owned approximately 0.08% of Eli Lilly and Company at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWA Asset Management Group LLC grew its holdings in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after acquiring an additional 724 shares during the last quarter. Knightsbridge Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares during the last quarter. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth $514,000. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth $834,000. Finally, CSM Advisors LLC grew its holdings in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after acquiring an additional 245 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Morgan Stanley lowered their price target on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,017.00.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm'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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $884.94 on Monday. The stock has a 50-day simple moving average of $827.69 and a 200 day simple moving average of $817.26. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a market capitalization of $839.07 billion, a PE ratio of 75.57, a P/E/G ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

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.

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