Horizon Investments LLC Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Horizon Investments LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,932 shares of the company’s stock after acquiring an additional 3,497 shares during the period. Horizon Investments LLC’s holdings in Eli Lilly and Company were worth $6,896,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LLY. Principal Financial Group Inc. lifted its stake in Eli Lilly and Company by 5.3% in 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 during the period. GSA Capital Partners LLP purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $606,000. Glass Wealth Management Co LLC boosted its stake in shares of Eli Lilly and Company by 41.7% during the 3rd quarter. Glass Wealth Management Co LLC now owns 2,309 shares of the company’s stock valued at $2,046,000 after purchasing an additional 680 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in shares of Eli Lilly and Company during the third quarter valued at about $276,000. Finally, Aljian Capital Management LLC bought a new position in Eli Lilly and Company in the third quarter worth about $1,089,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.5 %

NYSE:LLY opened at $825.48 on Tuesday. The company has a 50 day simple moving average of $832.05 and a two-hundred day simple moving average of $841.68. The company has a market cap of $782.70 billion, a PE ratio of 70.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 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%. Research analysts forecast 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 share buyback program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions 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 stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup dropped 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 research report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.