JPL Wealth Management LLC Makes New $694,000 Investment in Eli Lilly and Company (NYSE:LLY)

JPL Wealth Management LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 899 shares of the company’s stock, valued at approximately $694,000.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Raymond James Financial Inc. bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $1,240,653,000. Essential Planning LLC. boosted its position in shares of Eli Lilly and Company by 6,406.9% during the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Eli Lilly and Company by 126,531.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after acquiring an additional 678,209 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.2 %

LLY stock opened at $822.26 on Thursday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The firm’s fifty day simple moving average is $829.78 and its two-hundred day simple moving average is $845.29. The stock has a market capitalization of $779.64 billion, a price-to-earnings ratio of 70.22, 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 (NYSE:LLY) last announced its quarterly 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%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

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.