SlateStone Wealth LLC Purchases 131 Shares of Eli Lilly and Company (NYSE:LLY)

SlateStone Wealth LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,275 shares of the company’s stock after acquiring an additional 131 shares during the quarter. SlateStone Wealth LLC’s holdings in Eli Lilly and Company were worth $2,528,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup reduced their price target 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 report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Price Performance

LLY opened at $813.55 on Friday. The firm has a 50-day moving average price of $830.81 and a 200-day moving average price of $843.24. The company has a market capitalization of $771.38 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.