Eli Lilly and Company (NYSE:LLY) Shares Bought by Summit Financial LLC

Summit Financial LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 92.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,468 shares of the company’s stock after buying an additional 5,984 shares during the quarter. Summit Financial LLC’s holdings in Eli Lilly and Company were worth $9,625,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LLY. CWA Asset Management Group LLC boosted its stake in Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $514,000. M&T Bank Corp lifted its position in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new position in Eli Lilly and Company in the fourth quarter worth about $834,000. Finally, Proficio Capital Partners LLC increased its holdings in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after buying an additional 1,562 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial raised their price objective 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. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup decreased their price target 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 report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Down 0.2 %

LLY opened at $820.30 on Monday. The stock’s 50 day moving average price is $844.31 and its 200 day moving average price is $835.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market cap of $777.78 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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 predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication 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.