Nutshell Asset Management Ltd Takes $2.69 Million Position in Eli Lilly and Company (NYSE:LLY)

Nutshell Asset Management 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 fund purchased 3,490 shares of the company’s stock, valued at approximately $2,694,000. Eli Lilly and Company makes up 1.7% of Nutshell Asset Management Ltd’s portfolio, making the stock its 20th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $514,000. M&T Bank Corp increased its holdings in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Kentucky Trust Co bought a new stake in Eli Lilly and Company in the 4th quarter worth about $834,000. Finally, Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after buying an additional 1,562 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was 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 in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LLY. Truist Financial increased their price objective on shares of 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. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report 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 research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Price Performance

NYSE LLY opened at $737.56 on Friday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm’s fifty day simple moving average is $848.36 and its two-hundred day simple moving average is $832.44. 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 has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34.

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 analysts’ consensus estimates 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%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company 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.