Sit Investment Associates Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Sit Investment Associates Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,218 shares of the company’s stock after purchasing an additional 3,018 shares during the quarter. Sit Investment Associates Inc.’s holdings in Eli Lilly and Company were worth $22,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $8,407,908,000. Proficio Capital Partners LLC raised its holdings in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $1,240,653,000. Finally, Parnassus Investments LLC increased its position in shares of Eli Lilly and Company by 38,959.8% in the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after purchasing an additional 932,309 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial raised their price target on 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $737.56 on Friday. The firm has a market capitalization of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34. The stock has a fifty day moving average of $848.36 and a 200 day moving average of $832.44. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its 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%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

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.