Morey & Quinn Wealth Partners LLC Buys New Stake in Eli Lilly and Company (NYSE:LLY)

Morey & Quinn Wealth Partners LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 518 shares of the company’s stock, valued at approximately $400,000.

Several other hedge funds have also modified their holdings of LLY. Principal Financial Group Inc. increased its position in shares of Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after acquiring an additional 60,306 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Eli Lilly and Company by 45.2% during the 3rd quarter. Penserra Capital Management LLC now owns 870 shares of the company’s stock worth $770,000 after acquiring an additional 271 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Eli Lilly and Company by 24.7% during the third quarter. Loomis Sayles & Co. L P now owns 1,869 shares of the company’s stock worth $1,656,000 after purchasing an additional 370 shares in the last quarter. Truvestments Capital LLC lifted its position in Eli Lilly and Company by 36.1% in the third quarter. Truvestments Capital LLC now owns 565 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $2,899,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company raised their price objective on shares of 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. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. 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. Finally, Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $852.35 on Wednesday. The firm has a 50 day moving average of $839.56 and a 200-day moving average of $837.61. 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 has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market capitalization of $808.17 billion, a P/E ratio of 72.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Insider Buying and Selling at Eli Lilly and Company

In other 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 transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.