Korea Investment CORP Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Korea Investment CORP decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 4.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 653,533 shares of the company’s stock after selling 29,872 shares during the period. Eli Lilly and Company makes up about 1.2% of Korea Investment CORP’s holdings, making the stock its 11th biggest holding. Korea Investment CORP owned approximately 0.07% of Eli Lilly and Company worth $504,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. boosted its position in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the period. Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the 4th quarter worth $50,000. Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $58,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Eli Lilly and Company during the third quarter valued at about $93,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $826.84 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market cap of $783.98 billion, a P/E ratio of 70.61, a P/E/G ratio of 1.40 and a beta of 0.34. The business’s 50 day moving average price is $841.16 and its 200-day moving average price is $837.54. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its 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%. Equities research analysts anticipate 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 initiated a share repurchase 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction 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 trade represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company 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.