Sit Investment Associates Inc. Buys 3,018 Shares of Eli Lilly and Company (NYSE:LLY)

Sit Investment Associates Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,218 shares of the company’s stock after buying an additional 3,018 shares during the period. Sit Investment Associates Inc.’s holdings in Eli Lilly and Company were worth $22,556,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FWG Holdings LLC raised its position in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC raised its holdings in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after buying an additional 12 shares during the last quarter. Garner Asset Management Corp lifted its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Finally, GSG Advisors LLC grew its holdings in shares of Eli Lilly and Company by 3.2% during the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after buying an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $737.56 on Friday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. 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 stock’s fifty day moving average price is $848.36 and its two-hundred day moving average price is $832.44. The firm has a market cap of $699.33 billion, a PE ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

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 $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

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.