Alliancebernstein L.P. Has $3.90 Billion Position in Eli Lilly and Company (NYSE:LLY)

Alliancebernstein L.P. trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 5,046,223 shares of the company’s stock after selling 11,513 shares during the quarter. Eli Lilly and Company comprises about 1.3% of Alliancebernstein L.P.’s holdings, making the stock its 11th largest position. Alliancebernstein L.P.’s holdings in Eli Lilly and Company were worth $3,895,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC grew its holdings in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Wellington Management Group LLP increased its stake in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $1,240,653,000. Finally, Parnassus Investments LLC raised its holdings in shares of Eli Lilly and Company by 38,959.8% during the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after purchasing an additional 932,309 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $820.30 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The stock has a market cap of $777.78 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The stock has a fifty day moving average of $844.31 and a 200-day moving average of $835.77.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial boosted their target price 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. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by corporate 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.