Kane Investment Management Inc. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Kane Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,018 shares of the company’s stock, valued at approximately $3,103,000. Eli Lilly and Company accounts for 1.7% of Kane Investment Management Inc.’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also made changes to their positions in LLY. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. increased its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth $48,000. Compass Financial Services Inc acquired a new stake in Eli Lilly and Company during the fourth quarter valued at $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $753.54 on Tuesday. The stock has a market capitalization of $714.48 billion, a price-to-earnings ratio of 64.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The business’s fifty day moving average price is $835.24 and its two-hundred day moving average price is $822.00. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

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

Analyst Ratings Changes

LLY has been the subject of a number of analyst reports. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Morgan Stanley lowered their target price on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Citigroup cut 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 report on Tuesday, January 28th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,012.00.

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.