Golden State Equity Partners Acquires 271 Shares of Eli Lilly and Company (NYSE:LLY)

Golden State Equity Partners increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,481 shares of the company’s stock after buying an additional 271 shares during the quarter. Golden State Equity Partners’ holdings in Eli Lilly and Company were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Simon Quick Advisors LLC raised its stake in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $363,000. Hartline Investment Corp raised its stake in shares of Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after buying an additional 248 shares during the period. Meritage Portfolio Management raised its stake in shares of Eli Lilly and Company by 23.4% in the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock valued at $3,717,000 after buying an additional 1,208 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Eli Lilly and Company by 16.5% in the fourth quarter. WASHINGTON TRUST Co now owns 18,892 shares of the company’s stock valued at $11,013,000 after buying an additional 2,671 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $733.51 on Friday. Eli Lilly and Company has a 52 week low of $380.77 and a 52 week high of $800.78. The business has a 50-day simple moving average of $761.79 and a 200 day simple moving average of $666.67. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The stock has a market cap of $696.95 billion, a price-to-earnings ratio of 126.47, a PEG ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm’s revenue was up 28.1% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research reports. BMO Capital Markets boosted their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $815.00 price objective on shares of Eli Lilly and Company in a research note on Monday, April 15th. Bank of America boosted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $728.05.

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.