Alliancebernstein L.P. Has $3.90 Billion Holdings in Eli Lilly and Company (NYSE:LLY)

Alliancebernstein L.P. reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,046,223 shares of the company’s stock after selling 11,513 shares during the period. Eli Lilly and Company comprises about 1.3% of Alliancebernstein L.P.’s investment portfolio, making the stock its 11th biggest position. Alliancebernstein L.P. owned 0.53% of Eli Lilly and Company worth $3,895,684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWA Asset Management Group LLC increased its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after buying an additional 724 shares in the last quarter. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $514,000. M&T Bank Corp lifted its position in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $834,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.2 %

LLY stock opened at $820.30 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s fifty day moving average price is $844.31 and its two-hundred day moving average price is $835.77. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The stock has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’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 approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a report on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Truist Financial upped their price objective on shares of 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. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Finally, Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus 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.