1776 Wealth LLC Purchases 841 Shares of Eli Lilly and Company (NYSE:LLY)

1776 Wealth LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 71.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,024 shares of the company’s stock after buying an additional 841 shares during the period. Eli Lilly and Company accounts for about 0.7% of 1776 Wealth LLC’s investment portfolio, making the stock its 27th largest holding. 1776 Wealth LLC’s holdings in Eli Lilly and Company were worth $1,563,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. Essential Planning LLC. grew its holdings in Eli Lilly and Company by 6,406.9% during the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock valued at $593,544,000 after purchasing an additional 705,076 shares during the period. Integrated Investment Consultants LLC grew its holdings in Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in Eli Lilly and Company by 126,531.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after purchasing an additional 678,209 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $822.26 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm’s fifty day moving average price is $829.78 and its two-hundred day moving average price is $845.29. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The firm has a market capitalization of $779.64 billion, a P/E ratio of 70.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.