Daiwa Securities Group Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Daiwa Securities Group Inc. raised its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,420 shares of the company's stock after buying an additional 4,865 shares during the period. Daiwa Securities Group Inc.'s holdings in Eli Lilly and Company were worth $54,456,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC grew its position in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company's stock valued at $1,706,000 after purchasing an additional 278 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $363,000. WASHINGTON TRUST Co grew its position in shares of Eli Lilly and Company by 16.5% in the fourth quarter. WASHINGTON TRUST Co now owns 18,892 shares of the company's stock valued at $11,013,000 after purchasing an additional 2,671 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $8,326,000. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Redhawk Wealth Advisors Inc. now owns 6,986 shares of the company's stock valued at $3,752,000 after purchasing an additional 65 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LLY shares. TheStreet upgraded shares of Eli Lilly and Company from a "c+" rating to a "b" rating in a research report on Friday, March 8th. Truist Financial restated a "buy" rating and set a $850.00 target price on shares of Eli Lilly and Company in a research report on Friday, March 22nd. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Morgan Stanley raised their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $815.00 target price on shares of Eli Lilly and Company in a research report on Monday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $728.05.

Eli Lilly and Company Trading Up 0.6 %

Shares of LLY stock traded up $4.13 during mid-day trading on Wednesday, reaching $750.87. The company's stock had a trading volume of 3,068,748 shares, compared to its average volume of 3,085,965. The company's 50 day simple moving average is $763.51 and its 200-day simple moving average is $657.01. Eli Lilly and Company has a 12-month low of $367.35 and a 12-month high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $713.45 billion, a PE ratio of 128.75, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm's quarterly revenue was up 28.1% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now owns 99,333,810 shares of the company's stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by 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.

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