Dearborn Partners LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Dearborn Partners LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,942 shares of the company’s stock after buying an additional 239 shares during the quarter. Dearborn Partners LLC’s holdings in Eli Lilly and Company were worth $3,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LLY. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. FPC Investment Advisory Inc. boosted its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the period. Finally, Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $50,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. Citigroup lowered 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 report on Tuesday, January 28th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Finally, Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $828.80 on Tuesday. The firm has a market capitalization of $785.84 billion, a PE ratio of 70.78, a PEG ratio of 1.40 and a beta of 0.34. The stock’s fifty day moving average is $827.73 and its 200 day moving average is $846.36. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. 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 announced its 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 net margin of 23.51% and a return on equity of 85.24%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.