Beacon Pointe Advisors LLC Has $53.98 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Beacon Pointe Advisors LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,918 shares of the company's stock after buying an additional 12,334 shares during the period. Beacon Pointe Advisors LLC's holdings in Eli Lilly and Company were worth $53,977,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC grew its holdings in Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the period. Wellington Management Group LLP raised its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Finally, Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 11.6 %

Shares of NYSE:LLY traded down $104.28 during midday trading on Thursday, hitting $794.67. 12,580,274 shares of the stock were exchanged, compared to its average volume of 3,467,935. The company has a market capitalization of $753.49 billion, a PE ratio of 67.86, a P/E/G ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business's fifty day simple moving average is $828.65 and its two-hundred day simple moving average is $817.92.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the business earned $2.58 earnings per share. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company's 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 completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the stock from $1,150.00 to $700.00 in a report on Monday. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,000.32.

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.