RiverFront Investment Group LLC Acquires 2,569 Shares of Eli Lilly and Company (NYSE:LLY)

RiverFront Investment Group LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 99.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,156 shares of the company’s stock after buying an additional 2,569 shares during the quarter. RiverFront Investment Group LLC’s holdings in Eli Lilly and Company were worth $3,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. FPC Investment Advisory Inc. lifted its position in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the fourth quarter worth $50,000. Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at $58,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $87,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Finally, Citigroup reduced their target price 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 investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 0.2 %

NYSE:LLY opened at $820.30 on Friday. The firm has a 50 day moving average of $844.31 and a 200 day moving average of $836.82. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side analysts anticipate 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 authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

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.