Wright Investors Service Inc. Takes $1.68 Million Position in Eli Lilly and Company (NYSE:LLY)

Wright Investors Service Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,882 shares of the company’s stock, valued at approximately $1,680,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the period. Morgan Stanley increased its position in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Northern Trust Corp increased its position in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $3,416,206,000. Finally, International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Wells Fargo & Company increased their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley raised their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a research note on Wednesday, February 21st. Bank of America increased their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Citigroup increased their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the transaction, the insider now owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Trading Down 0.2 %

Eli Lilly and Company stock traded down $1.63 during midday trading on Thursday, reaching $749.14. The stock had a trading volume of 518,872 shares, compared to its average volume of 3,051,000. Eli Lilly and Company has a twelve month low of $367.35 and a twelve month high of $800.78. The stock has a market capitalization of $711.80 billion, a PE ratio of 129.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The stock’s 50-day simple moving average is $764.03 and its 200 day simple moving average is $657.67.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The firm had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Analysts expect that Eli Lilly and Company will post 12.52 EPS for the current year.

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.