Eli Lilly and Company (NYSE:LLY) Stock Holdings Increased by Summit Financial LLC

Summit Financial LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 92.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,468 shares of the company’s stock after buying an additional 5,984 shares during the period. Summit Financial LLC’s holdings in Eli Lilly and Company were worth $9,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC boosted its stake in shares of Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after acquiring an additional 724 shares in the last quarter. Centerpoint Advisory Group purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $514,000. M&T Bank Corp boosted its position in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares during the period. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $834,000. Finally, Proficio Capital Partners LLC increased its stake in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.2 %

Shares of NYSE LLY opened at $820.30 on Monday. The business has a 50 day simple moving average of $844.31 and a 200 day simple moving average of $835.77. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market cap of $777.78 billion, a price-to-earnings ratio of 70.05, 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.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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%. On average, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LLY shares. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial lifted their price objective on shares of 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. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Citigroup lowered their price target 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 research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

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.