Perennial Investment Advisors LLC Acquires 172 Shares of Eli Lilly and Company (NYSE:LLY)

Perennial Investment Advisors LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,557 shares of the company’s stock after acquiring an additional 172 shares during the period. Perennial Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sit Investment Associates Inc. increased its holdings in shares of Eli Lilly and Company by 11.5% in the fourth quarter. Sit Investment Associates Inc. now owns 29,218 shares of the company’s stock valued at $22,556,000 after purchasing an additional 3,018 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Eli Lilly and Company by 1.5% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 435,232 shares of the company’s stock worth $335,998,000 after buying an additional 6,368 shares during the period. Mizuho Bank Ltd. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $154,000. Gladstone Capital Management LLP bought a new position in Eli Lilly and Company in the 4th quarter valued at about $18,142,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $192,435,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $737.56 on Friday. The business has a fifty day simple moving average of $848.36 and a 200 day simple moving average of $832.44. The company has a market cap of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 return on equity of 85.24% and a net margin of 23.51%. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LLY. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research note on Thursday, March 6th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

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.