1248 Management LLC Makes New $1.51 Million Investment in Eli Lilly and Company (NYSE:LLY)

1248 Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,951 shares of the company's stock, valued at approximately $1,506,000. Eli Lilly and Company comprises about 0.6% of 1248 Management LLC's investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP increased its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Capital International Investors raised its holdings in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $1,240,653,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday. Citigroup reduced 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 report on Tuesday, January 28th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Finally, Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,000.32.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $794.67 on Friday. 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 firm has a market cap of $753.49 billion, a price-to-earnings ratio of 67.86, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The stock's 50-day moving average is $826.90 and its 200-day moving average is $816.98. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The company's revenue was up 45.2% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate 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.

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