Norges Bank Invests $8.41 Billion in Eli Lilly and Company (NYSE:LLY)

Norges Bank acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,891,072 shares of the company’s stock, valued at approximately $8,407,908,000. Eli Lilly and Company makes up 1.1% of Norges Bank’s portfolio, making the stock its 10th largest holding. Norges Bank owned about 1.15% of Eli Lilly and Company at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caisse Des Depots ET Consignations acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $6,753,000. LM Advisors LLC grew 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 during the last quarter. Loomis Sayles & Co. L P raised its stake in Eli Lilly and Company by 19.2% during the fourth 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 period. AssuredPartners Investment Advisors LLC bought a new position in Eli Lilly and Company in the fourth quarter worth about $1,583,000. Finally, NEOS Investment Management LLC raised its position in shares of Eli Lilly and Company by 29.1% during the 4th quarter. NEOS Investment Management LLC now owns 50,540 shares of the company’s stock worth $39,017,000 after purchasing an additional 11,383 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE LLY opened at $826.84 on Thursday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The business’s fifty day moving average is $841.16 and its two-hundred day moving average is $837.54. The stock has a market capitalization 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 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) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction 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

A number of research analysts recently commented on LLY shares. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a report on Thursday, March 6th. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.