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

Cornerstone Advisors LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 43,600 shares of the company’s stock after purchasing an additional 200 shares during the period. Eli Lilly and Company makes up 1.3% of Cornerstone Advisors LLC’s portfolio, making the stock its 13th largest position. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $33,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FWG Holdings LLC boosted its holdings in Eli Lilly and Company by 0.6% in the 4th 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 in the last quarter. Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Vestia Personal Wealth Advisors boosted its holdings in Eli Lilly and Company by 1.7% in the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after purchasing an additional 13 shares in the last quarter. Finally, Altrius Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.0% in the 3rd quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock valued at $1,138,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LLY shares. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com raised 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 target on Eli Lilly and Company in a research note on Thursday. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Trading Down 4.7 %

Shares of LLY opened at $828.80 on Tuesday. The stock has a fifty day moving average of $827.73 and a two-hundred day moving average of $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. The company has a market capitalization of $785.84 billion, a PE ratio of 70.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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%. As a group, analysts forecast 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 permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership 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.