Prosperity Wealth Management Inc. Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Prosperity Wealth Management Inc. raised its position in Eli Lilly and Company (NYSE:LLY) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,123 shares of the company’s stock after buying an additional 135 shares during the quarter. Eli Lilly and Company comprises about 0.7% of Prosperity Wealth Management Inc.’s holdings, making the stock its 24th largest position. Prosperity Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $1,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in shares of 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. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on LLY shares. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note 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. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $823.95 on Wednesday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market cap of $781.25 billion, a price-to-earnings ratio of 70.36, a P/E/G ratio of 1.40 and a beta of 0.34. The firm’s 50-day simple moving average is $828.77 and its 200 day simple moving average is $845.45. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side analysts predict 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 repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company 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.