Arete Wealth Advisors LLC Buys 2,016 Shares of Eli Lilly and Company (NYSE:LLY)

Arete Wealth Advisors LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 37.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,454 shares of the company’s stock after purchasing an additional 2,016 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $5,750,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LLY. Highline Wealth Partners LLC grew 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 worth $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the last quarter. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company during the fourth quarter worth $48,000. Finally, Compass Financial Services Inc purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Trading Up 1.8 %

Shares of Eli Lilly and Company stock opened at $819.57 on Thursday. 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 $777.09 billion, a P/E ratio of 69.99, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock’s 50-day simple moving average is $848.85 and its 200 day simple moving average is $834.05.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership 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.