Gilliland Jeter Wealth Management LLC Makes New $673,000 Investment in Eli Lilly and Company (NYSE:LLY)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,154 shares of the company’s stock, valued at approximately $673,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the period. Morgan Stanley raised its stake in Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares during the period. Northern Trust Corp raised its stake in Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares during the period. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Eli Lilly and Company by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,435,311 shares of the company’s stock worth $2,382,339,000 after purchasing an additional 88,016 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LLY shares. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a research note on Wednesday, February 21st. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Morgan Stanley raised their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 1.2 %

LLY stock traded up $8.64 during mid-day trading on Friday, hitting $733.51. 2,009,249 shares of the company were exchanged, compared to its average volume of 2,265,427. The company has a market capitalization of $696.95 billion, a PE ratio of 126.47, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a twelve month low of $380.77 and a twelve month high of $800.78. The firm has a fifty day simple moving average of $761.79 and a 200 day simple moving average of $666.67.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the business earned $2.09 EPS. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

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.