Meriwether Wealth & Planning LLC Purchases Shares of 480 Eli Lilly and Company (NYSE:LLY)

Meriwether Wealth & Planning LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 480 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors have also added to or reduced their stakes in the business. Johnson Investment Counsel Inc. boosted its holdings in shares of Eli Lilly and Company by 1.8% during the fourth quarter. Johnson Investment Counsel Inc. now owns 34,597 shares of the company’s stock worth $26,709,000 after purchasing an additional 628 shares during the period. Gallagher Capital Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $315,000. Daiwa Securities Group Inc. boosted its holdings in shares of Eli Lilly and Company by 0.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 136,597 shares of the company’s stock worth $105,453,000 after purchasing an additional 1,232 shares during the period. FWG Holdings LLC boosted its holdings in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after purchasing an additional 12 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 5.6% during the fourth quarter. Moran Wealth Management LLC now owns 9,319 shares of the company’s stock worth $7,194,000 after purchasing an additional 492 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of a number of analyst reports. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. 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 for the company in a report on Tuesday, January 28th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Bank of America restated 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 equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,007.50.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $868.59 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market cap of $823.57 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The firm’s fifty day moving average is $826.63 and its two-hundred day moving average is $847.24. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. As a group, 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 approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.