Alta Advisers Ltd Grows Stake in Eli Lilly and Company (NYSE:LLY)

Alta Advisers Ltd increased its holdings in Eli Lilly and Company (NYSE:LLY) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,619 shares of the company’s stock after purchasing an additional 319 shares during the period. Eli Lilly and Company accounts for 1.3% of Alta Advisers Ltd’s holdings, making the stock its 15th biggest holding. Alta Advisers Ltd’s holdings in Eli Lilly and Company were worth $2,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after acquiring an additional 291,875 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. Finally, Capital Research Global Investors increased its position in Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of 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. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Morgan Stanley reduced their price objective on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup cut their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.00.

Eli Lilly and Company Stock Down 2.6 %

NYSE:LLY opened at $818.18 on Tuesday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company’s 50 day moving average is $827.99 and its two-hundred day moving average is $818.92. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $775.77 billion, a PE ratio of 69.87, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

About Eli Lilly and Company

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.