Biondo Investment Advisors LLC Acquires 117 Shares of Eli Lilly and Company (NYSE:LLY)

Biondo Investment Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,941 shares of the company’s stock after purchasing an additional 117 shares during the quarter. Eli Lilly and Company comprises approximately 1.9% of Biondo Investment Advisors LLC’s holdings, making the stock its 14th largest position. Biondo Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $13,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LLY. CWA Asset Management Group LLC grew its stake in shares of Eli Lilly and Company by 11.9% in the fourth 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 during the last quarter. Centerpoint Advisory Group bought a new position in Eli Lilly and Company in the 4th quarter worth about $514,000. M&T Bank Corp grew its position in 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 valued at $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Kentucky Trust Co bought a new stake in Eli Lilly and Company during the 4th quarter valued at about $834,000. Finally, Proficio Capital Partners LLC raised its holdings in 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 worth $5,202,000 after buying an additional 1,562 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.2 %

Eli Lilly and Company stock opened at $820.30 on Friday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. The firm has a 50 day moving average of $844.31 and a 200 day moving average of $836.82. 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 earnings per share 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 predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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 stock was 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 of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. 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. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.