Forefront Wealth Management Inc. Takes Position in Eli Lilly and Company (NYSE:LLY)

Forefront Wealth Management Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 379 shares of the company's stock, valued at approximately $293,000.

Several other large investors have also modified their holdings of the business. Principal Financial Group Inc. increased its position in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company's stock worth $1,070,698,000 after buying an additional 60,306 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at $10,115,000. Landscape Capital Management L.L.C. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $1,449,000. Thompson Siegel & Walmsley LLC raised its stake in Eli Lilly and Company by 18.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,549 shares of the company's stock valued at $2,258,000 after purchasing an additional 403 shares during the last quarter. Finally, HealthInvest Partners AB raised its stake in Eli Lilly and Company by 12.6% in the 3rd quarter. HealthInvest Partners AB now owns 30,564 shares of the company's stock valued at $27,078,000 after purchasing an additional 3,420 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price target on 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. Bank of America reissued a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Three 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,009.72.

Remove Ads

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Trading Down 1.5 %

NYSE LLY traded down $12.55 during mid-day trading on Tuesday, hitting $852.35. The company's stock had a trading volume of 2,669,339 shares, compared to its average volume of 3,149,249. The firm has a market capitalization of $808.17 billion, a P/E ratio of 72.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock's fifty day simple moving average is $837.36 and its two-hundred day simple moving average is $837.97.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 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%. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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.