Van ECK Associates Corp Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Van ECK Associates Corp raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 222,001 shares of the company’s stock after buying an additional 12,447 shares during the quarter. Van ECK Associates Corp’s holdings in Eli Lilly and Company were worth $129,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $26,000. Thompson Investment Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $36,000. Finally, Family CFO Inc bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $35.16 during mid-day trading on Tuesday, reaching $772.36. 4,330,841 shares of the stock were exchanged, compared to its average volume of 3,031,323. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The business’s 50 day moving average is $760.89 and its 200-day moving average is $668.00. The company has a market capitalization of $733.87 billion, a P/E ratio of 134.72, a P/E/G ratio of 1.60 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $392.26 and a 1 year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 12.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial reissued a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. Wells Fargo & Company boosted their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Bank of America boosted their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.