Terra Nova Asset Management LLC Has $3 Million Position in Eli Lilly and Company (NYSE:LLY)

Terra Nova Asset Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,146 shares of the company’s stock after acquiring an additional 251 shares during the period. Eli Lilly and Company makes up about 2.6% of Terra Nova Asset Management LLC’s holdings, making the stock its 7th largest holding. Terra Nova Asset Management LLC’s holdings in Eli Lilly and Company were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in LLY. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares in the last quarter. State Street Corp increased its holdings in shares of Eli Lilly and Company by 1.9% in the second quarter. State Street Corp now owns 33,878,417 shares of the company’s stock worth $15,888,300,000 after buying an additional 642,274 shares during the period. Morgan Stanley increased its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after buying an additional 83,915 shares during the period. Northern Trust Corp grew its stake in shares of Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $3,416,206,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LLY shares. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Barclays boosted their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $689.52.

Eli Lilly and Company Price Performance

Shares of LLY opened at $777.96 on Friday. The company has a market cap of $739.19 billion, a price-to-earnings ratio of 134.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $334.58 and a twelve month high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The company has a 50 day moving average of $730.97 and a two-hundred day moving average of $637.01.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the company posted $2.09 earnings per share. The firm’s revenue was up 28.1% compared to the same quarter last year. As a group, analysts predict that Eli Lilly and Company will post 12.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 34,538 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the completion of the sale, the insider now owns 99,719,884 shares of the company’s stock, valued at $63,004,019,910.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 195,055 shares of company stock worth $125,254,657. 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.