Mystic Asset Management Inc. Buys 51 Shares of Eli Lilly and Company (NYSE:LLY)

Mystic Asset Management Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,618 shares of the company’s stock after acquiring an additional 51 shares during the period. Mystic Asset Management Inc.’s holdings in Eli Lilly and Company were worth $2,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Finally, Fiduciary Advisors Inc. bought a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on 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 $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LLY shares. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Price Performance

Shares of LLY opened at $825.48 on Tuesday. The company’s 50-day moving average is $832.05 and its 200-day moving average is $841.68. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $782.70 billion, a PE ratio of 70.49, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released 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%. Equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.