1776 Wealth LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

1776 Wealth LLC increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 71.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,024 shares of the company's stock after buying an additional 841 shares during the quarter. Eli Lilly and Company accounts for approximately 0.7% of 1776 Wealth LLC's investment portfolio, making the stock its 27th largest position. 1776 Wealth LLC's holdings in Eli Lilly and Company were worth $1,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

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Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $23.47 on Thursday, reaching $798.39. 3,564,332 shares of the company were exchanged, compared to its average volume of 3,129,621. 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 quick ratio of 0.97 and a current ratio of 1.15. The firm has a market cap of $757.01 billion, a price-to-earnings ratio of 68.18, a P/E/G ratio of 1.40 and a beta of 0.34. The company's 50-day moving average is $830.18 and its two-hundred day moving average is $844.96.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. As a group, research analysts expect 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 has authorized a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price target for the company. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,009.72.

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.