APG Asset Management US Inc. Buys 1,586 Shares of Eli Lilly and Company (NYSE:LLY)

APG Asset Management US Inc. increased its stake in Eli Lilly and Company (NYSE:LLY) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 204,328 shares of the company’s stock after purchasing an additional 1,586 shares during the quarter. Eli Lilly and Company comprises 1.1% of APG Asset Management US Inc.’s investment portfolio, making the stock its 22nd largest holding. APG Asset Management US Inc.’s holdings in Eli Lilly and Company were worth $186,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. Core Wealth Advisors Inc. boosted its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the second quarter valued at about $36,000. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Eli Lilly and Company in the first quarter worth approximately $40,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.1 %

Shares of NYSE:LLY opened at $924.97 on Thursday. The stock has a market capitalization of $879.10 billion, a price-to-earnings ratio of 136.23, a PEG ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock’s 50-day simple moving average is $894.11 and its two-hundred day simple moving average is $840.86. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53.

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, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the sale, the insider now owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 425,000 shares of company stock valued at $394,455,351 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Citigroup started coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Bank of America increased their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company 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.