Millstone Evans Group LLC Invests $840,000 in Eli Lilly and Company (NYSE:LLY)

Millstone Evans Group LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,088 shares of the company's stock, valued at approximately $840,000.

A number of other hedge funds have also modified their holdings of the stock. 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 valued at $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. raised its holdings 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 purchasing an additional 43 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $50,000. Fiduciary Advisors Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $58,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eli Lilly and Company in the third quarter worth $93,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on LLY shares. Wells Fargo & Company raised their target price 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. Truist Financial raised 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 note on Monday, February 3rd. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

Remove Ads

Eli Lilly and Company Price Performance

NYSE LLY traded down $25.51 on Wednesday, reaching $826.84. The company's stock had a trading volume of 2,561,764 shares, compared to its average volume of 3,149,060. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap of $783.98 billion, a PE ratio of 70.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The business has a 50-day moving average price of $839.56 and a 200 day moving average price of $837.61.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Sell-side 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 initiated a share repurchase plan 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 plans are usually a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

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.