Woodmont Investment Counsel LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Woodmont Investment Counsel LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 121.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,687 shares of the company’s stock after purchasing an additional 5,856 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Eli Lilly and Company were worth $8,251,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC boosted its holdings in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $514,000. M&T Bank Corp raised its position in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the period. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $834,000. Finally, Proficio Capital Partners LLC raised its position in shares of Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after acquiring an additional 1,562 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.4 %

Shares of NYSE LLY opened at $839.44 on Monday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The stock has a market cap of $795.93 billion, a PE ratio of 71.69, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average of $835.99 and a 200 day moving average of $838.30.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LLY. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. 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, Truist Financial upped their price target 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. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.