Eli Lilly and Company (NYSE:LLY) Stake Lessened by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,137 shares of the company’s stock after selling 130 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LLY. FWG Holdings LLC boosted its position in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares during the period. Moran Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 5.6% in the fourth quarter. Moran Wealth Management LLC now owns 9,319 shares of the company’s stock worth $7,194,000 after purchasing an additional 492 shares in the last quarter. Main Street Research LLC lifted its position in shares of Eli Lilly and Company by 1.8% in the fourth quarter. Main Street Research LLC now owns 3,363 shares of the company’s stock worth $2,596,000 after purchasing an additional 61 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Eli Lilly and Company by 1.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 515,420 shares of the company’s stock worth $397,904,000 after purchasing an additional 6,221 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its position in Eli Lilly and Company by 6.7% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 29,417 shares of the company’s stock valued at $22,710,000 after purchasing an additional 1,853 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LLY. Citigroup decreased 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. Wells Fargo & Company raised their price target 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.50.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $868.59 on Monday. 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 company has a market cap of $823.57 billion, a PE ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm has a fifty day moving average price of $826.63 and a two-hundred day moving average price of $847.24. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are 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.