Russell Investments Group Ltd. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Russell Investments Group Ltd. increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 724,516 shares of the company's stock after acquiring an additional 61,998 shares during the period. Eli Lilly and Company comprises about 0.8% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 13th biggest holding. Russell Investments Group Ltd. owned 0.08% of Eli Lilly and Company worth $559,485,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC lifted its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Raymond James Financial Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $1,240,653,000. Finally, 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 worth $721,590,000 after buying an additional 932,309 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 Price Performance

Shares of NYSE:LLY traded up $0.19 on Tuesday, reaching $723.92. The company's stock had a trading volume of 3,317,545 shares, compared to its average volume of 3,341,069. The company has a 50-day simple moving average of $846.64 and a 200 day simple moving average of $830.05. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market cap of $686.40 billion, a P/E ratio of 61.82, a PEG ratio of 1.40 and a beta of 0.51.

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 return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was 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. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LLY. Truist Financial boosted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America reiterated a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,018.89.

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.