Norges Bank Purchases New Shares in Eli Lilly and Company (NYSE:LLY)

Norges Bank bought a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,891,072 shares of the company's stock, valued at approximately $8,407,908,000. Eli Lilly and Company accounts for about 1.1% of Norges Bank's portfolio, making the stock its 10th largest position. Norges Bank owned approximately 1.15% of Eli Lilly and Company as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LLY. Caisse Des Depots ET Consignations bought a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $6,753,000. LM Advisors LLC raised its position in shares of Eli Lilly and Company by 25.7% during the 4th quarter. LM Advisors LLC now owns 6,138 shares of the company's stock valued at $4,739,000 after buying an additional 1,254 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Eli Lilly and Company by 19.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,227 shares of the company's stock worth $1,719,000 after acquiring an additional 358 shares during the last quarter. AssuredPartners Investment Advisors LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth $1,583,000. Finally, NEOS Investment Management LLC increased its stake in Eli Lilly and Company by 29.1% in the fourth quarter. NEOS Investment Management LLC now owns 50,540 shares of the company's stock valued at $39,017,000 after acquiring an additional 11,383 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

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Eli Lilly and Company Stock Down 0.2 %

Shares of Eli Lilly and Company stock traded down $1.37 during trading on Friday, hitting $820.30. The company's stock had a trading volume of 2,124,571 shares, compared to its average volume of 3,309,500. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a market capitalization of $777.78 billion, a PE ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a fifty day simple moving average of $844.31 and a two-hundred day simple moving average of $836.37. 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Citigroup reduced their price target 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 report on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Wells Fargo & Company increased 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 report on Wednesday, March 5th. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

Insider Buying and Selling

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 sale, the chief accounting officer now 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 through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Profile

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.