North Forty Two & Co. Invests $505,000 in Eli Lilly and Company (NYSE:LLY)

North Forty Two & Co. purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 654 shares of the company’s stock, valued at approximately $505,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. FWG Holdings LLC lifted its position in Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after acquiring an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its position in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp lifted its position in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. GSG Advisors LLC lifted its position in Eli Lilly and Company by 3.2% in the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after acquiring an additional 13 shares in the last quarter. Finally, IMZ Advisory Inc lifted its position in Eli Lilly and Company by 2.0% in the 4th quarter. IMZ Advisory Inc now owns 662 shares of the company’s stock valued at $511,000 after acquiring an additional 13 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $821.67 on Wednesday. The company has a market capitalization of $779.08 billion, a price-to-earnings ratio of 70.17, a PEG ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a 50-day simple moving average of $833.02 and a 200 day simple moving average of $840.71. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Citigroup lowered their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average 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 business’s stock in a transaction dated 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. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

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.