Modern Wealth Management LLC Acquires 4,045 Shares of Eli Lilly and Company (NYSE:LLY)

Modern Wealth Management LLC boosted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,025 shares of the company's stock after purchasing an additional 4,045 shares during the period. Modern Wealth Management LLC's holdings in Eli Lilly and Company were worth $9,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC lifted its holdings 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 period. FPC Investment Advisory Inc. lifted its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after purchasing an additional 43 shares during the period. Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $50,000. Fiduciary Advisors Inc. bought a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $58,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eli Lilly and Company during the third quarter valued at approximately $93,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

LLY stock traded down $8.97 during trading on Thursday, hitting $817.79. 982,349 shares of the company's stock traded hands, compared to its average volume of 3,145,449. The business has a fifty day simple moving average of $841.16 and a 200 day simple moving average of $837.54. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $775.40 billion, a price-to-earnings ratio of 69.95, a P/E/G ratio of 1.40 and a beta of 0.34.

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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 return on equity of 85.24% and a net margin of 23.51%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated 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 directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

LLY has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on 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. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Bank of America reiterated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Citigroup reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,009.72.

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.