Erste Asset Management Reduces Stake in Eli Lilly and Company

Erste Asset Management GmbH has reduced its ownership in Eli Lilly and Company (NYSE:LLY) by 29.0% during the fourth quarter, according to its recent filing with the Securities and Exchange Commission. Following this divestment, the fund now owns 28,798 shares of Eli Lilly's stock after selling 11,769 shares in that period. The value of Erste Asset Management GmbH's holdings in Eli Lilly stood at approximately $22,553,000 as of the last reporting date.

Many other institutional investors and hedge funds have also adjusted their positions in Eli Lilly's stock. For instance, FWG Holdings LLC increased its stake by 0.6% in the fourth quarter and now holds 2,023 shares valued at $1,640,000 after acquiring an additional 12 shares. Similarly, Morling Financial Advisors LLC raised its stake by 4.7%, bringing its total to 266 shares worth $205,000 after buying 12 more shares during the last quarter. Garner Asset Management Corp also increased its stake by 2.3%, owning 532 shares now valued at $411,000, while GSG Advisors LLC grew its holding by 3.2%, owning 425 shares valued at $328,000 after purchasing 13 additional shares. Overall, institutional investors control 82.53% of the company's stock.

Analyst Ratings Updates

Several equity analysts have provided updates regarding Eli Lilly's shares. Citigroup recently cut their price target from $1,250.00 to $1,190.00 while maintaining a "buy" rating. Leerink Partners set a price target of $950.00, and Truist Financial raised their target from $1,029.00 to $1,038.00 while also rating it as a buy. Bank of America reaffirmed a buy rating with a target of $997.00. Lastly, Morgan Stanley established a price target of $1,146.00. Among analysts, three have given a hold rating, while eighteen have a buy rating, leading to an average rating of "Moderate Buy" with a consensus price target of $1,009.72, according to MarketBeat.com.

Eli Lilly and Company Stock Highlights

The stock of Eli Lilly opened at $822.26 on Thursday. With a market capitalization of $779.64 billion, it possesses a P/E ratio of 70.22 and a PEG ratio of 1.40. The stock has shown a 50-day simple moving average of $829.78 and a 200-day moving average of $845.29. Over the past year, Eli Lilly's shares have traded between a low of $711.40 and a high of $972.53. Current financial metrics show a quick ratio of 0.97, a current ratio of 1.15, and a debt-to-equity ratio of 2.00.

Eli Lilly reported its quarterly earnings on February 6, disclosing earnings of $5.32 per share, which fell short of the consensus estimate of $5.45 by $0.13. The company's return on equity was noted at 85.24%, with a net margin of 23.51%. Analysts project that Eli Lilly will achieve earnings of 23.48 per share for the current fiscal year.

In December, Eli Lilly announced a stock repurchase program allowing the company to buy back $15.00 billion worth of shares, equivalent to about 2% of its shares through open market purchases. Such repurchase programs generally indicate that the company's management perceives its stock as undervalued.

About Eli Lilly and Company

Eli Lilly and Company is engaged in the discovery, development, and marketing of human pharmaceuticals globally. The company provides a range of products, including Basaglar, Humalog, and Humulin for diabetes, as well as Jardiance and Trulicity aimed at type 2 diabetes management.

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