Heirloom Wealth Management Buys Shares of 7,457 Eli Lilly and Company (NYSE:LLY)

Heirloom Wealth Management bought a new stake in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 7,457 shares of the company’s stock, valued at approximately $4,347,000. Eli Lilly and Company accounts for 1.7% of Heirloom Wealth Management’s holdings, making the stock its 21st biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after acquiring an additional 659,838 shares during the period. Morgan Stanley increased its position in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after acquiring an additional 83,915 shares during the period. Northern Trust Corp increased its position in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after acquiring an additional 355,317 shares during the period. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth $3,416,206,000. Finally, International Assets Investment Management LLC increased its position in shares of Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. BMO Capital Markets upped their price objective on 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 boosted their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research note on Monday. Finally, The Goldman Sachs Group boosted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $19.64 during trading hours on Friday, hitting $726.31. 3,486,055 shares of the stock were exchanged, compared to its average volume of 3,073,465. The company has a market cap of $690.11 billion, a price-to-earnings ratio of 125.23, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34. Eli Lilly and Company has a 12-month low of $369.76 and a 12-month high of $800.78. The stock has a 50-day moving average of $763.96 and a 200 day moving average of $659.59. 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 (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating 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 period last year, the company posted $2.09 earnings per share. As a group, equities research analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on 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 transaction, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.