Advisors Capital Management LLC Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Advisors Capital Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 102.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,393 shares of the company’s stock after purchasing an additional 5,254 shares during the quarter. Advisors Capital Management LLC’s holdings in Eli Lilly and Company were worth $8,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sagespring Wealth Partners LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $6,794,000. Townsquare Capital LLC lifted its holdings in shares of Eli Lilly and Company by 97.1% in the 4th quarter. Townsquare Capital LLC now owns 56,235 shares of the company’s stock worth $43,415,000 after acquiring an additional 27,705 shares during the last quarter. Manhattan West Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 5.6% in the 4th quarter. Manhattan West Asset Management LLC now owns 1,704 shares of the company’s stock valued at $1,315,000 after purchasing an additional 91 shares in the last quarter. Fortis Capital Advisors LLC boosted its stake in shares of Eli Lilly and Company by 6.4% in the 4th quarter. Fortis Capital Advisors LLC now owns 1,947 shares of the company’s stock valued at $1,503,000 after purchasing an additional 117 shares in the last quarter. Finally, Petros Family Wealth LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $240,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.5 %

LLY stock opened at $731.62 on Monday. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a market capitalization of $693.70 billion, a price-to-earnings ratio of 62.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The business’s 50 day moving average price is $837.05 and its two-hundred day moving average price is $822.87. 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 (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. As a group, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LLY. Morgan Stanley reduced their price objective on Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,017.67.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated 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 owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

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.