Horizon Investments LLC Buys 3,497 Shares of Eli Lilly and Company (NYSE:LLY)

Horizon Investments LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 64.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,932 shares of the company’s stock after purchasing an additional 3,497 shares during the quarter. Horizon Investments LLC’s holdings in Eli Lilly and Company were worth $6,896,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LLY. Principal Financial Group Inc. raised its holdings 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 valued at $1,070,698,000 after acquiring an additional 60,306 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $606,000. Glass Wealth Management Co LLC lifted its stake in shares of Eli Lilly and Company by 41.7% during the third quarter. Glass Wealth Management Co LLC now owns 2,309 shares of the company’s stock worth $2,046,000 after buying an additional 680 shares during the period. Prudent Man Advisors LLC purchased a new stake in Eli Lilly and Company in the third quarter valued at approximately $276,000. Finally, Aljian Capital Management LLC purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $1,089,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’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 sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price 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 equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Up 1.5 %

Shares of NYSE LLY opened at $825.48 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm’s 50-day moving average is $832.05 and its two-hundred day moving average is $841.68. The company has a market capitalization of $782.70 billion, a PE ratio of 70.49, a price-to-earnings-growth 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.

Eli Lilly and Company (NYSE:LLY) last released its 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 return on equity of 85.24% and a net margin of 23.51%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.