AMF Tjanstepension AB Boosts Stake in Eli Lilly and Company (NYSE:LLY)

AMF Tjanstepension AB lifted its stake in Eli Lilly and Company (NYSE:LLY) by 113.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,786 shares of the company’s stock after purchasing an additional 176,552 shares during the period. Eli Lilly and Company accounts for approximately 2.1% of AMF Tjanstepension AB’s holdings, making the stock its 13th largest position. AMF Tjanstepension AB’s holdings in Eli Lilly and Company were worth $293,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. J. W. Coons Advisors LLC increased its stake in Eli Lilly and Company by 4.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after buying an additional 90 shares in the last quarter. Annex Advisory Services LLC increased its stake in Eli Lilly and Company by 68.8% in the 4th quarter. Annex Advisory Services LLC now owns 3,797 shares of the company’s stock worth $2,214,000 after buying an additional 1,547 shares in the last quarter. Exencial Wealth Advisors LLC increased its stake in Eli Lilly and Company by 4.0% in the 4th quarter. Exencial Wealth Advisors LLC now owns 7,454 shares of the company’s stock worth $4,345,000 after buying an additional 286 shares in the last quarter. Pinnacle West Asset Management Inc. increased its stake in Eli Lilly and Company by 0.6% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 4,570 shares of the company’s stock worth $2,664,000 after buying an additional 25 shares in the last quarter. Finally, Point Break Capital Management LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth $796,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.7 %

Shares of NYSE:LLY opened at $891.01 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a 50-day moving average price of $897.24 and a 200 day moving average price of $846.22. The company has a market cap of $846.82 billion, a price-to-earnings ratio of 131.22, a PEG ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 355,962 shares of company stock valued at $331,267,535 in the last ninety days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

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.