Grant Private Wealth Management Inc Invests $301,000 in Eli Lilly and Company (NYSE:LLY)

Grant Private Wealth Management Inc acquired a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 390 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds have also recently bought and sold shares of LLY. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC grew its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at $1,240,653,000. Finally, Parnassus Investments LLC increased its holdings in Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company's stock worth $721,590,000 after purchasing an additional 932,309 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Citigroup lowered their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a report on Thursday, March 6th. Bank of America reaffirmed a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,009.72.

Remove Ads

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $51.53 during trading on Friday, reaching $737.56. The company's stock had a trading volume of 5,289,016 shares, compared to its average volume of 3,326,912. The company has a 50-day moving average price of $848.36 and a two-hundred day moving average price of $831.93. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm has a market cap of $699.33 billion, a PE ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51. 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 posted its quarterly earnings data 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%. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current 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 news, CAO Donald A. Zakrowski sold 1,000 shares of the business's 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 transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.