Western Wealth Management LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Western Wealth Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,444 shares of the company’s stock after buying an additional 1,110 shares during the period. Western Wealth Management LLC’s holdings in Eli Lilly and Company were worth $6,088,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Lipe & Dalton purchased a new position in Eli Lilly and Company during the 4th quarter worth $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter worth $27,000. Retirement Group LLC grew its position in Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after purchasing an additional 35 shares during the last quarter. Legacy Financial Group LLC purchased a new position in Eli Lilly and Company during the 3rd quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new position in Eli Lilly and Company during the 3rd quarter worth $36,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. BMO Capital Markets raised their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Barclays raised their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $728.05.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $4.82 during midday trading on Thursday, hitting $745.95. The company had a trading volume of 1,715,622 shares, compared to its average volume of 3,067,708. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a twelve month low of $367.35 and a twelve month high of $800.78. The business has a 50-day simple moving average of $764.03 and a two-hundred day simple moving average of $657.67. The firm has a market capitalization of $708.77 billion, a price-to-earnings ratio of 129.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 12.52 earnings per share for the current year.

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.