Arrow Capital Pty Ltd Invests $6.56 Million in Eli Lilly and Company (NYSE:LLY)

Arrow Capital Pty Ltd acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,500 shares of the company's stock, valued at approximately $6,562,000. Eli Lilly and Company accounts for approximately 6.0% of Arrow Capital Pty Ltd's portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also modified their holdings of LLY. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,000. Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $50,000. Finally, Fiduciary Advisors Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. 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 research note on Wednesday, March 5th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.00.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $106.80 on Friday, reaching $841.70. The stock had a trading volume of 10,843,294 shares, compared to its average volume of 3,427,703. The firm has a market capitalization of $798.08 billion, a price-to-earnings ratio of 71.88, a P/E/G ratio of 1.40 and a beta of 0.51. The firm's 50-day moving average is $829.09 and its two-hundred day moving average is $820.35. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month 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 - 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 return on equity of 85.24% and a net margin of 23.51%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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.