Harbour Investments Inc. Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Harbour Investments Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY) by 32.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,467 shares of the company’s stock after acquiring an additional 3,031 shares during the quarter. Harbour Investments Inc.’s holdings in Eli Lilly and Company were worth $9,624,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC lifted its holdings in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares during the period. Garner Asset Management Corp boosted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. GSG Advisors LLC grew its stake in shares of Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after purchasing an additional 13 shares during the period. Finally, IMZ Advisory Inc increased its holdings in shares of Eli Lilly and Company by 2.0% in the 4th quarter. IMZ Advisory Inc now owns 662 shares of the company’s stock valued at $511,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LLY. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Finally, Citigroup cut their target price on shares of 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. Three investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Insider Activity

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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $813.55 on Friday. The firm has a market cap of $771.38 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm’s fifty day moving average is $830.81 and its 200-day moving average is $843.24. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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%. Sell-side 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 authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.