Holderness Investments Co. Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Holderness Investments Co. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,322 shares of the company’s stock after purchasing an additional 21 shares during the period. Holderness Investments Co.’s holdings in Eli Lilly and Company were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Principal Financial Group Inc. grew its stake in Eli Lilly and Company by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. Quest Partners LLC grew its stake in Eli Lilly and Company by 29.2% during the 3rd quarter. Quest Partners LLC now owns 1,053 shares of the company’s stock worth $933,000 after purchasing an additional 238 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Eli Lilly and Company during the 3rd quarter worth $10,115,000. First Horizon Advisors Inc. boosted its position in shares of Eli Lilly and Company by 0.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 10,057 shares of the company’s stock worth $8,910,000 after acquiring an additional 26 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 2.1% during the 3rd quarter. Moran Wealth Management LLC now owns 8,827 shares of the company’s stock worth $7,820,000 after acquiring an additional 180 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. 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. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Buying and Selling 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 that occurred on 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 directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 0.8 %

LLY opened at $843.35 on Friday. The business has a 50 day moving average price of $835.19 and a two-hundred day moving average price of $840.70. 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 company has a market cap of $799.64 billion, a PE ratio of 72.02, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week 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 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.