Eli Lilly and Company (NYSE:LLY) Position Boosted by Twin Capital Management Inc.

Twin Capital Management Inc. increased its stake in Eli Lilly and Company (NYSE:LLY) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,310 shares of the company’s stock after acquiring an additional 259 shares during the period. Eli Lilly and Company comprises about 1.5% of Twin Capital Management Inc.’s holdings, making the stock its 10th largest holding. Twin Capital Management Inc.’s holdings in Eli Lilly and Company were worth $14,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of LLY. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% in 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 acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. Finally, Parnassus Investments LLC lifted its stake in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after purchasing an additional 932,309 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 6.5 %

LLY opened at $737.56 on Monday. 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 firm’s fifty day moving average is $848.36 and its 200 day moving average is $831.41. The stock has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a fifty-two week low of $692.96 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (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%. On average, sell-side analysts forecast 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 has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on LLY. 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 shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target 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, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.