First Citizens Bank & Trust Co. Increases Position in Eli Lilly and Company (NYSE:LLY)

First Citizens Bank & Trust Co. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,157 shares of the company’s stock after buying an additional 4,339 shares during the period. First Citizens Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $11,656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LLY. Vanguard Group Inc. grew its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Eli Lilly and Company by 6.0% in the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares during the period. Capital International Investors increased its stake in Eli Lilly and Company by 5.1% during the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. GQG Partners LLC lifted its holdings in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after buying an additional 171,595 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LLY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group upped their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday. They issued an “outperform” rating and a $1,100.00 price target for the company. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $917.97 on Friday. The stock’s 50-day moving average is $921.21 and its two-hundred day moving average is $858.02. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53. The firm has a market cap of $872.44 billion, a price-to-earnings ratio of 135.19, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Analysts predict that Eli Lilly and Company will post 16.49 earnings per share 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.