Meriwether Wealth & Planning LLC Buys Shares of 480 Eli Lilly and Company (NYSE:LLY)

Meriwether Wealth & Planning LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 480 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. FPC Investment Advisory Inc. increased its holdings 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 valued at $45,000 after buying an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 4.8 %

Shares of Eli Lilly and Company stock opened at $868.59 on Monday. The stock has a market cap of $823.57 billion, a price-to-earnings ratio of 74.17, a PEG ratio of 1.40 and a beta of 0.34. The company has a fifty day simple moving average of $826.63 and a 200-day simple moving average of $847.24. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on LLY shares. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a 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 report on Friday, February 7th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Citigroup reduced their price target on shares of 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. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,007.50.

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.