Geode Capital Management LLC Purchases 291,875 Shares of Eli Lilly and Company (NYSE:LLY)

Geode Capital Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,382,846 shares of the company’s stock after buying an additional 291,875 shares during the period. Eli Lilly and Company comprises 1.0% of Geode Capital Management LLC’s portfolio, making the stock its 12th largest holding. Geode Capital Management LLC’s holdings in Eli Lilly and Company were worth $13,389,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LLY. FWG Holdings LLC raised its holdings 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 valued at $1,640,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC raised its stake in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after buying an additional 12 shares during the period. Garner Asset Management Corp boosted its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares during the last quarter. Finally, GSG Advisors LLC grew its holdings in shares of Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after acquiring an additional 13 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, 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. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Trading Up 0.4 %

LLY stock opened at $825.42 on Tuesday. The business has a 50 day simple moving average of $846.30 and a two-hundred day simple moving average of $835.00. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a market capitalization of $782.64 billion, a price-to-earnings ratio of 70.49, a PEG ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 return on equity of 85.24% and a net margin of 23.51%. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction 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 completion of the sale, the chief accounting officer now directly 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 document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.