Eli Lilly and Company (NYSE:LLY) Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,600 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Eli Lilly and Company comprises about 1.3% of Cornerstone Advisors LLC’s holdings, making the stock its 13th largest holding. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $33,659,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the fourth 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 last quarter. Morling Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares during the last quarter. Garner Asset Management Corp grew 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 worth $411,000 after acquiring an additional 12 shares during the period. Vestia Personal Wealth Advisors grew its position in Eli Lilly and Company by 1.7% in the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after acquiring an additional 13 shares during the period. Finally, Altrius Capital Management Inc grew its position in Eli Lilly and Company by 1.0% in the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. Citigroup lowered their price objective 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. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a report on Thursday. Berenberg Bank set a $970.00 target price on 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 company a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Stock Down 4.7 %

LLY opened at $828.80 on Tuesday. The business’s 50-day simple moving average is $827.73 and its 200-day simple moving average is $846.36. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock has a market capitalization of $785.84 billion, a P/E ratio of 70.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 85.24% and a net margin of 23.51%. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.