Eli Lilly and Company (NYSE:LLY) Shares Bought by Cottage Street Advisors LLC

Cottage Street Advisors LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520 shares of the company’s stock after purchasing an additional 34 shares during the period. Cottage Street Advisors LLC’s holdings in Eli Lilly and Company were worth $402,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its position 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 worth $5,245,000 after acquiring an additional 724 shares in the last quarter. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $514,000. M&T Bank Corp raised its position in shares of Eli Lilly and Company by 0.7% during the 3rd 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 period. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $834,000. Finally, Proficio Capital Partners LLC increased its stake in shares of 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 purchasing an additional 1,562 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 1.5 %

Shares of NYSE:LLY opened at $852.35 on Wednesday. The company has a market cap of $808.17 billion, a price-to-earnings ratio of 72.79, a PEG ratio of 1.40 and a beta of 0.34. 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 company has a 50-day moving average price of $839.56 and a 200 day moving average price of $837.61. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LLY shares. Wells Fargo & Company lifted their target price 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. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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.