MIG Capital LLC Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

MIG Capital LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 220.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,936 shares of the company's stock after buying an additional 45,355 shares during the quarter. Eli Lilly and Company comprises 5.2% of MIG Capital LLC's portfolio, making the stock its 8th largest holding. MIG Capital LLC's holdings in Eli Lilly and Company were worth $50,903,000 as of its most recent filing with the Securities & Exchange Commission.

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

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Eli Lilly and Company Trading Up 0.5 %

Shares of LLY traded up $3.94 during mid-day trading on Tuesday, hitting $727.67. 2,746,567 shares of the company's stock traded hands, compared to its average volume of 3,336,670. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $689.96 billion, a P/E ratio of 62.12, a PEG ratio of 1.40 and a beta of 0.51. The business's 50-day moving average price is $846.64 and its 200-day moving average price is $830.05. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS 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%. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. Citigroup cut their price target 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 note on Tuesday, January 28th. Bank of America reissued a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on 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. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,018.89.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred 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 owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

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.