Swiss National Bank Has $1.76 Billion Stake in Eli Lilly and Company (NYSE:LLY)

Swiss National Bank trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,282,190 shares of the company’s stock after selling 115,700 shares during the quarter. Eli Lilly and Company makes up about 1.2% of Swiss National Bank’s holdings, making the stock its 10th largest position. Swiss National Bank’s holdings in Eli Lilly and Company were worth $1,761,851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. FPC Investment Advisory Inc. raised its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Down 0.2 %

LLY stock opened at $822.26 on Thursday. The stock has a 50-day simple moving average of $829.78 and a two-hundred day simple moving average of $845.29. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The firm has a market capitalization of $779.64 billion, a PE ratio of 70.22, a PEG ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts predict 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 initiated a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is 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.