Family Legacy Inc. Raises Position in Eli Lilly and Company (NYSE:LLY)

Family Legacy Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,915 shares of the company’s stock after buying an additional 217 shares during the period. Eli Lilly and Company comprises approximately 2.1% of Family Legacy Inc.’s holdings, making the stock its 6th largest position. Family Legacy Inc.’s holdings in Eli Lilly and Company were worth $6,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Principal Financial Group Inc. boosted its position in shares of Eli Lilly and Company by 5.3% in the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares during the period. Tradition Wealth Management LLC lifted its holdings in Eli Lilly and Company by 14.0% in the 3rd quarter. Tradition Wealth Management LLC now owns 1,403 shares of the company’s stock worth $1,243,000 after purchasing an additional 172 shares in the last quarter. Timber Creek Capital Management LLC boosted its stake in Eli Lilly and Company by 0.7% in the 3rd quarter. Timber Creek Capital Management LLC now owns 12,632 shares of the company’s stock worth $11,191,000 after purchasing an additional 86 shares during the period. Plotkin Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $845,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $35,618,000. 82.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $820.30 on Monday. The stock has a market cap of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a 50 day simple moving average of $844.31 and a two-hundred day simple moving average of $835.77. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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%. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Analyst Ratings Changes

A number of brokerages recently commented on LLY. Citigroup dropped their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

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.