Modern Wealth Management LLC Has $9.28 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Modern Wealth Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 50.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,025 shares of the company’s stock after purchasing an additional 4,045 shares during the period. Modern Wealth Management LLC’s holdings in Eli Lilly and Company were worth $9,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Garner Asset Management Corp increased its stake 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 buying an additional 12 shares during the last quarter. FWG Holdings LLC increased its position in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its holdings in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after acquiring an additional 12 shares during the period. GSG Advisors LLC boosted its position in Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after purchasing an additional 13 shares during the last quarter. Finally, IMZ Advisory Inc grew its stake in Eli Lilly and Company by 2.0% in the 4th quarter. IMZ Advisory Inc now owns 662 shares of the company’s stock valued at $511,000 after purchasing an additional 13 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 3.4 %

NYSE LLY opened at $865.94 on Tuesday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market capitalization of $821.06 billion, a PE ratio of 73.95, a PEG ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s 50-day moving average is $837.36 and its 200 day moving average is $837.97.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts forecast 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 share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related 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 $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

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.