EFG Asset Management North America Corp. Acquires New Position in Eli Lilly and Company (NYSE:LLY)

EFG Asset Management North America Corp. bought a new position in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,364 shares of the company’s stock, valued at approximately $2,599,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FWG Holdings LLC raised its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC raised its holdings in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares during the period. Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. GSG Advisors LLC boosted its stake in shares of Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after acquiring an additional 13 shares during the period. Finally, IMZ Advisory Inc grew its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. IMZ Advisory Inc now owns 662 shares of the company’s stock worth $511,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Wells Fargo & Company boosted their price target on 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. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Truist Financial lifted 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 report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents 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 the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $852.35 on Wednesday. The stock has a market cap of $808.17 billion, a PE ratio of 72.79, 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. The company has a 50-day moving average price of $839.56 and a 200 day moving average price of $837.61. 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) last released its 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%. Equities research analysts anticipate 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 approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are 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.