Nutshell Asset Management Ltd Invests $2.69 Million in Eli Lilly and Company (NYSE:LLY)

Nutshell Asset Management Ltd purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,490 shares of the company’s stock, valued at approximately $2,694,000. Eli Lilly and Company makes up 1.7% of Nutshell Asset Management Ltd’s portfolio, making the stock its 20th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter valued at $48,000. Finally, Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $737.56 on Friday. The firm has a market capitalization of $699.33 billion, a PE ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34. The business’s fifty day moving average price is $848.36 and its two-hundred day moving average price is $832.44. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of 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. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Citigroup decreased 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 note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.