Arete Wealth Advisors LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Arete Wealth Advisors LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 37.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,454 shares of the company’s stock after buying an additional 2,016 shares during the period. Arete Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $5,750,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LLY. Motley Fool Asset Management LLC increased its stake in Eli Lilly and Company by 0.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 39,375 shares of the company’s stock worth $30,398,000 after acquiring an additional 370 shares during the last quarter. World Investment Advisors boosted its position in shares of Eli Lilly and Company by 14.9% during the 4th quarter. World Investment Advisors now owns 16,574 shares of the company’s stock valued at $12,795,000 after acquiring an additional 2,145 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $207,000. OneAscent Financial Services LLC increased its position in shares of Eli Lilly and Company by 179.6% in the fourth quarter. OneAscent Financial Services LLC now owns 4,798 shares of the company’s stock worth $3,704,000 after purchasing an additional 3,082 shares during the last quarter. Finally, Private Portfolio Partners LLC raised its stake in Eli Lilly and Company by 16.8% in the fourth quarter. Private Portfolio Partners LLC now owns 3,189 shares of the company’s stock valued at $2,462,000 after purchasing an additional 459 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $819.57 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company’s 50-day moving average is $848.85 and its 200 day moving average is $834.05. The stock has a market capitalization of $777.09 billion, a P/E ratio of 69.99, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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 expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are 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.