Elgethun Capital Management Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Elgethun Capital Management raised its stake in Eli Lilly and Company (NYSE:LLY) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,690 shares of the company’s stock after acquiring an additional 56 shares during the quarter. Eli Lilly and Company makes up approximately 4.6% of Elgethun Capital Management’s investment portfolio, making the stock its 3rd largest position. Elgethun Capital Management’s holdings in Eli Lilly and Company were worth $19,061,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Rathbones Group PLC lifted its stake in Eli Lilly and Company by 20.9% in the 4th quarter. Rathbones Group PLC now owns 189,746 shares of the company’s stock valued at $146,484,000 after purchasing an additional 32,850 shares during the last quarter. Twin Capital Management Inc. increased its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Twin Capital Management Inc. now owns 18,310 shares of the company’s stock worth $14,136,000 after buying an additional 259 shares in the last quarter. ADAR1 Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 17.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,350 shares of the company’s stock valued at $1,042,000 after acquiring an additional 200 shares during the last quarter. Employees Retirement System of Texas boosted its holdings in shares of Eli Lilly and Company by 6.1% during the 4th quarter. Employees Retirement System of Texas now owns 205,168 shares of the company’s stock valued at $158,390,000 after acquiring an additional 11,816 shares in the last quarter. Finally, Bell Asset Management Ltd acquired a new position in Eli Lilly and Company in the 4th quarter worth about $4,352,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Citigroup decreased their price objective 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. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Down 6.5 %

Shares of NYSE LLY opened at $737.56 on Monday. The business has a 50-day simple moving average of $848.36 and a two-hundred day simple moving average of $831.41. The company has a market cap of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52 week low of $692.96 and a 52 week high of $972.53. 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 posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

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 stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

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.