Eli Lilly and Company (NYSE:LLY) Shares Acquired by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 292.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,659 shares of the company’s stock after acquiring an additional 1,236 shares during the quarter. Eli Lilly and Company comprises about 1.1% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Pitti Group Wealth Management LLC’s holdings in Eli Lilly and Company were worth $967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principle Wealth Partners LLC raised its position in Eli Lilly and Company by 10.7% in the fourth quarter. Principle Wealth Partners LLC now owns 6,422 shares of the company’s stock worth $3,744,000 after acquiring an additional 620 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 14,781 shares of the company’s stock worth $8,616,000 after buying an additional 336 shares during the period. Opinicus Capital Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $2,090,000. Mogy Joel R Investment Counsel Inc. raised its holdings in Eli Lilly and Company by 39.8% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 27,177 shares of the company’s stock worth $15,842,000 after buying an additional 7,733 shares during the period. Finally, Consolidated Planning Corp raised its holdings in Eli Lilly and Company by 14.0% during the 4th quarter. Consolidated Planning Corp now owns 1,147 shares of the company’s stock worth $669,000 after buying an additional 141 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $8.64 during mid-day trading on Friday, hitting $733.51. The company’s stock had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. Eli Lilly and Company has a one year low of $380.77 and a one year high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The firm has a market capitalization of $696.95 billion, a PE ratio of 126.47, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34. The stock’s 50-day moving average is $761.79 and its two-hundred day moving average is $666.67.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company posted $2.09 earnings per share. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 12.51 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. Barclays boosted their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Citigroup boosted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Bank of America upped their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $815.00 target price on shares of Eli Lilly and Company in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $728.05.

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.