MONECO Advisors LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

MONECO Advisors LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,023 shares of the company’s stock after buying an additional 247 shares during the period. MONECO Advisors LLC’s holdings in Eli Lilly and Company were worth $1,762,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Simon Quick Advisors LLC boosted its holdings in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after acquiring an additional 278 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $363,000. Terril Brothers Inc. boosted its stake in Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares in the last quarter. Hartline Investment Corp grew its position in Eli Lilly and Company by 1.1% during the 4th quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after purchasing an additional 248 shares during the last quarter. Finally, Meritage Portfolio Management increased its stake in Eli Lilly and Company by 23.4% during the 4th quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock valued at $3,717,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target (up previously from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Morgan Stanley raised their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Barclays upped their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $731.55.

Eli Lilly and Company Stock Performance

LLY stock traded up $44.36 during midday trading on Tuesday, reaching $781.56. The company had a trading volume of 7,432,651 shares, compared to its average volume of 3,071,009. The firm has a market capitalization of $742.61 billion, a PE ratio of 134.43, a P/E/G ratio of 1.60 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $392.26 and a fifty-two week high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average price of $760.89 and a 200 day moving average price of $668.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. Analysts anticipate that Eli Lilly and Company will post 12.51 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.