Sovereign Investment Advisors LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Sovereign Investment Advisors LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 284 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Principal Financial Group Inc. lifted its holdings in 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 worth $1,070,698,000 after acquiring an additional 60,306 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Eli Lilly and Company in the third quarter valued at about $606,000. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 5.0% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,278 shares of the company’s stock valued at $1,133,000 after purchasing an additional 61 shares in the last quarter. Vawter Financial Ltd. lifted its holdings in shares of Eli Lilly and Company by 5.7% in the third quarter. Vawter Financial Ltd. now owns 1,861 shares of the company’s stock valued at $1,649,000 after purchasing an additional 100 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Eli Lilly and Company by 599.9% in the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after purchasing an additional 369,293 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $813.55 on Friday. The business’s 50 day moving average price is $830.81 and its two-hundred day moving average price is $843.24. The company has a market cap 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 company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. 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 posted 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 net margin of 23.51% and a return on equity of 85.24%. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Citigroup cut 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. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and 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.