Ascent Capital Management LLC Acquires Shares of 483 Eli Lilly and Company (NYSE:LLY)

Ascent Capital Management LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 483 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. lifted its position in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the period. Finally, Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was 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 in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LLY. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Wells Fargo & Company raised their target price 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. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average 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 $813.55 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $771.38 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm’s 50 day moving average price is $830.81 and its 200-day moving average price is $843.24. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month 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 return on equity of 85.24% and a net margin of 23.51%. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

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