Grant Private Wealth Management Inc Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Grant Private Wealth Management Inc purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 390 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC grew its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $48,000. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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 on Thursday, March 13th. The shares were 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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LLY. Citigroup dropped their price target 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 note on Tuesday, January 28th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial raised their price objective on 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. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Stock Up 1.8 %

Shares of NYSE LLY opened at $819.57 on Thursday. The stock has a market cap of $777.09 billion, a P/E ratio of 69.99, a PEG ratio of 1.40 and a beta of 0.34. The business’s fifty day simple moving average is $848.85 and its 200-day simple moving average is $834.05. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued 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 return on equity of 85.24% and a net margin of 23.51%. As a group, equities 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 approved a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.