APG Asset Management N.V. Grows Stake in Eli Lilly and Company (NYSE:LLY)

APG Asset Management N.V. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 500.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,153 shares of the company’s stock after purchasing an additional 682,693 shares during the period. Eli Lilly and Company comprises about 1.7% of APG Asset Management N.V.’s investment portfolio, making the stock its 7th biggest holding. APG Asset Management N.V. owned 0.09% of Eli Lilly and Company worth $610,706,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 100,387.1% during 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 buying an additional 5,197,038 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Eli Lilly and Company by 19.0% during 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 buying an additional 2,012,129 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $1,240,653,000. Finally, Parnassus Investments LLC grew its holdings 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 acquiring an additional 932,309 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on LLY shares. Bank of America reissued 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. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity at Eli Lilly and Company

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 shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 2.2 %

LLY opened at $722.03 on Tuesday. Eli Lilly and Company has a 52 week low of $677.09 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. The firm has a 50-day simple moving average of $846.64 and a two-hundred day simple moving average of $830.05. The company has a market capitalization of $684.61 billion, a PE ratio of 61.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

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.