Cullen Investment Group LTD. Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Cullen Investment Group LTD. purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,659 shares of the company’s stock, valued at approximately $7,962,000. Eli Lilly and Company comprises 1.4% of Cullen Investment Group LTD.’s portfolio, making the stock its 17th largest holding.

Several other hedge funds have also added to or reduced their stakes in LLY. Fairfield Bush & CO. bought a new position in Eli Lilly and Company during the first quarter worth about $107,000. Roundview Capital LLC boosted its holdings in Eli Lilly and Company by 2.6% during the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock worth $589,000 after buying an additional 53 shares during the last quarter. Merit Financial Group LLC bought a new position in Eli Lilly and Company during the first quarter worth about $210,000. NewEdge Advisors LLC raised its position in shares of Eli Lilly and Company by 9.9% during the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock worth $15,193,000 after purchasing an additional 4,774 shares during the period. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the first quarter worth about $561,000. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $645.07, for a total value of $34,854,422.24. Following the completion of the transaction, the insider now directly owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 133,785 shares of company stock valued at $86,537,034. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 1.4 %

Shares of Eli Lilly and Company stock traded up $10.82 on Monday, hitting $762.46. 697,410 shares of the company’s stock traded hands, compared to its average volume of 3,068,563. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The company has a market capitalization of $724.46 billion, a price-to-earnings ratio of 129.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.34. The company has a fifty day moving average of $761.77 and a two-hundred day moving average of $654.08. Eli Lilly and Company has a one year low of $367.35 and a one year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company earned $2.09 earnings per share. Eli Lilly and Company’s revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LLY shares. Barclays raised their price target on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Morgan Stanley raised their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, DZ Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

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.