Wellington Management Group LLP Has $9.75 Billion Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Wellington Management Group LLP grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,625,925 shares of the company’s stock after acquiring an additional 2,012,129 shares during the quarter. Eli Lilly and Company makes up about 1.8% of Wellington Management Group LLP’s holdings, making the stock its 8th biggest holding. Wellington Management Group LLP’s holdings in Eli Lilly and Company were worth $9,747,214,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LLY. CWA Asset Management Group LLC increased its holdings in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after buying an additional 724 shares during the period. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $514,000. M&T Bank Corp increased its stake in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $834,000. Finally, Proficio Capital Partners LLC lifted its stake in Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after purchasing an additional 1,562 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LLY. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Price Performance

Shares of LLY opened at $820.30 on Monday. The business has a 50-day moving average of $844.31 and a 200-day moving average of $835.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company 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.