Trek Financial LLC Acquires 389 Shares of Eli Lilly and Company (NYSE:LLY)

Trek Financial LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 20.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,296 shares of the company’s stock after purchasing an additional 389 shares during the period. Trek Financial LLC’s holdings in Eli Lilly and Company were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LLY. Norges Bank bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC raised its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP lifted its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $1,240,653,000. Finally, Parnassus Investments LLC increased its stake in shares of Eli Lilly and Company by 38,959.8% during the fourth quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after purchasing an additional 932,309 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on LLY shares. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup lowered 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 report on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $737.56 on Monday. The business’s 50-day moving average price is $848.36 and its two-hundred day moving average price is $831.41. Eli Lilly and Company has a 12-month low of $692.96 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market cap of $699.33 billion, a PE ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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, 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 approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.