Eli Lilly and Company (NYSE:LLY) Shares Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 21.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,562 shares of the company’s stock after acquiring an additional 7,972 shares during the period. Eli Lilly and Company accounts for approximately 2.7% of Kimelman & Baird LLC’s investment portfolio, making the stock its 15th biggest holding. Kimelman & Baird LLC’s holdings in Eli Lilly and Company were worth $34,402,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Cassady Schiller Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 10.1% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 458 shares of the company’s stock worth $354,000 after purchasing an additional 42 shares during the period. TCTC Holdings LLC grew its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. TCTC Holdings LLC now owns 2,727 shares of the company’s stock valued at $2,105,000 after purchasing an additional 62 shares during the period. Pitti Group Wealth Management LLC boosted its holdings in Eli Lilly and Company by 3.0% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,708 shares of the company’s stock worth $1,319,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Eli Lilly and Company by 11.1% in the 4th quarter. Parallel Advisors LLC now owns 26,277 shares of the company’s stock worth $20,286,000 after buying an additional 2,628 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in Eli Lilly and Company by 15.7% during the 4th quarter. Cibc World Markets Corp now owns 125,207 shares of the company’s stock valued at $96,660,000 after acquiring an additional 17,022 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial increased their target price on shares of 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. Citigroup lowered their target price on 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. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Transactions 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 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 completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 1.5 %

LLY opened at $813.55 on Monday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The business has a 50 day moving average price of $830.81 and a two-hundred day moving average price of $842.50. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market cap of $771.38 billion, a PE ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.