Artisan Partners Limited Partnership Raises Stake in Eli Lilly and Company (NYSE:LLY)

Artisan Partners Limited Partnership grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,618 shares of the company’s stock after acquiring an additional 574 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Eli Lilly and Company were worth $32,129,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LLY. FWG Holdings LLC raised its position in Eli Lilly and Company by 0.6% in the 4th 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 increased its holdings in shares of Eli Lilly and Company by 4.7% in 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 period. Prestige Wealth Management Group LLC lifted its stake in shares of Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after acquiring an additional 12 shares during the last quarter. Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares during the period. Finally, GSG Advisors LLC grew its position in Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after acquiring an additional 13 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted 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 note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $820.30 on Friday. The company has a 50 day simple moving average of $844.31 and a two-hundred day simple moving average of $836.82. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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 expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.