Enhancing Capital LLC Takes $6.41 Million Position in Eli Lilly and Company (NYSE:LLY)

Enhancing Capital LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,300 shares of the company's stock, valued at approximately $6,408,000. Eli Lilly and Company accounts for about 5.1% of Enhancing Capital LLC's investment portfolio, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. lifted its stake 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 worth $45,000 after acquiring an additional 43 shares during the last quarter. Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $58,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LLY. Wells Fargo & Company lifted 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. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

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Eli Lilly and Company Stock Performance

LLY stock traded down $3.13 on Friday, hitting $839.44. The company's stock had a trading volume of 5,957,460 shares, compared to its average volume of 3,146,962. The firm has a 50 day moving average of $835.99 and a two-hundred day moving average of $839.87. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market cap of $795.93 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company's 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company 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.