Highland Capital Management LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Highland Capital Management LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,350 shares of the company’s stock after buying an additional 360 shares during the period. Highland Capital Management LLC’s holdings in Eli Lilly and Company were worth $7,782,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LLY. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $3,416,206,000. Moneta Group Investment Advisors LLC grew its holdings in Eli Lilly and Company by 102,752.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock valued at $1,992,374,000 after purchasing an additional 5,440,731 shares during the last quarter. Morgan Stanley increased its position in shares of Eli Lilly and Company by 44.1% in the fourth quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after buying an additional 3,691,436 shares in the last quarter. Imprint Wealth LLC increased its position in shares of Eli Lilly and Company by 53,716.8% in the second quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock valued at $175,120,000 after buying an additional 1,747,946 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $445,944,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $778.69 on Thursday. The firm has a market capitalization of $739.88 billion, a P/E ratio of 134.26, a P/E/G ratio of 1.70 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $334.58 and a 1-year high of $800.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The business’s 50-day simple moving average is $727.96 and its 200-day simple moving average is $636.01.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The company’s revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 EPS. Equities analysts predict that Eli Lilly and Company will post 12.42 EPS for the current year.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 14,388 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $630.28, for a total transaction of $9,068,468.64. Following the sale, the insider now directly owns 99,754,422 shares in the company, valued at approximately $62,873,217,098.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 195,055 shares of company stock worth $125,254,657. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America raised their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Barclays raised their price target on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Truist Financial restated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $689.52.

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.