Prospect Financial Group LLC Buys New Position in Eli Lilly and Company (NYSE:LLY)

Prospect Financial Group LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 451 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LLY. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. Parnassus Investments LLC boosted its stake in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after buying an additional 932,309 shares during the last quarter. Polen Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 164.4% in the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock valued at $1,000,040,000 after acquiring an additional 805,434 shares in the last quarter. Finally, Essential Planning LLC. increased its position in shares of Eli Lilly and Company by 6,406.9% during the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock valued at $593,544,000 after acquiring an additional 705,076 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Up 3.4 %

Shares of NYSE:LLY opened at $865.94 on Tuesday. The firm has a market capitalization of $821.06 billion, a PE ratio of 73.95, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. 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. The firm has a fifty day moving average of $837.36 and a 200 day moving average of $837.97.

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 the consensus estimate 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share 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 repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

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.