Sierra Summit Advisors LLC Boosts Position in Eli Lilly and Company (NYSE:LLY)

Sierra Summit Advisors LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,856 shares of the company’s stock after purchasing an additional 1,767 shares during the quarter. Eli Lilly and Company comprises about 1.7% of Sierra Summit Advisors LLC’s holdings, making the stock its 27th biggest holding. Sierra Summit Advisors LLC’s holdings in Eli Lilly and Company were worth $8,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LLY. FWG Holdings LLC increased its holdings 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 worth $1,640,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC grew its position in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after acquiring an additional 12 shares during the last quarter. Garner Asset Management Corp raised its position in 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 purchasing an additional 12 shares during the period. Finally, GSG Advisors LLC lifted its stake in shares of Eli Lilly and Company by 3.2% in the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LLY shares. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research 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 note on Friday, February 7th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 6.5 %

Shares of NYSE:LLY opened at $737.56 on Monday. Eli Lilly and Company has a 52 week low of $692.96 and a 52 week high of $972.53. The company’s 50 day moving average is $848.36 and its two-hundred day moving average is $831.41. The company has a market cap of $699.33 billion, a PE ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51. 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 issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and 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.