Maiden Cove Capital LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Maiden Cove Capital LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,439 shares of the company’s stock after selling 24 shares during the period. Eli Lilly and Company comprises approximately 1.7% of Maiden Cove Capital LLC’s holdings, making the stock its 13th largest holding. Maiden Cove Capital LLC’s holdings in Eli Lilly and Company were worth $1,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Montis Financial LLC increased its stake in shares of Eli Lilly and Company by 46.4% during the fourth quarter. Montis Financial LLC now owns 751 shares of the company’s stock valued at $580,000 after buying an additional 238 shares during the period. Buckley Wealth Management LLC lifted its stake in Eli Lilly and Company by 3.6% in the fourth quarter. Buckley Wealth Management LLC now owns 546 shares of the company’s stock worth $422,000 after acquiring an additional 19 shares during the period. United Capital Management of KS Inc. boosted its holdings in Eli Lilly and Company by 0.7% in the fourth quarter. United Capital Management of KS Inc. now owns 12,317 shares of the company’s stock valued at $9,509,000 after acquiring an additional 84 shares in the last quarter. Associated Banc Corp increased its position in Eli Lilly and Company by 95.5% during the 4th quarter. Associated Banc Corp now owns 51,403 shares of the company’s stock valued at $39,683,000 after purchasing an additional 25,104 shares during the period. Finally, HMV Wealth Advisors LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $1,238,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $813.55 on Friday. The firm has a market cap of $771.38 billion, a P/E ratio of 69.47, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a 50 day moving average of $830.81 and a 200 day moving average of $844.01.

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 return on equity of 85.24% and a net margin of 23.51%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Truist Financial increased their target price 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. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Citigroup lowered their price objective on 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. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents 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 this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.