J. L. Bainbridge & Co. Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 84.8% in the fourth quarter, HoldingsChannel reports. The firm owned 523 shares of the company’s stock after selling 2,907 shares during the quarter. J. L. Bainbridge & Co. Inc.’s holdings in Eli Lilly and Company were worth $404,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of LLY. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. grew its stake in 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 purchasing an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.
Insider Transactions at Eli Lilly and Company
In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.
Eli Lilly and Company Trading Up 1.5 %
Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted 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 net margin of 23.51% and a return on equity of 85.24%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
LLY has been the topic of a number of research reports. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Wolfe Research initiated 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 objective for the company. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.
Check Out Our Latest Report on Eli Lilly and Company
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.
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