Kimelman & Baird LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Kimelman & Baird LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 44,562 shares of the company’s stock after buying an additional 7,972 shares during the quarter. Eli Lilly and Company makes up 2.7% of Kimelman & Baird LLC’s holdings, 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 quarter.

Several other institutional investors also recently made changes to their positions in LLY. CWA Asset Management Group LLC grew its position in 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 valued at $5,245,000 after acquiring an additional 724 shares in the last quarter. Centerpoint Advisory Group bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $514,000. M&T Bank Corp lifted its holdings 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 worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $834,000. Finally, Cooper Financial Group boosted its stake in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Citigroup cut 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 report on Tuesday, January 28th. 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. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $813.55 on Monday. 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 firm has a market cap of $771.38 billion, a price-to-earnings ratio of 69.47, a P/E/G ratio of 1.40 and a beta of 0.34. The business’s 50-day simple moving average is $830.81 and its 200-day simple moving average is $842.50. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.