Steel Grove Capital Advisors LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Steel Grove Capital Advisors LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 388 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter worth approximately $27,000. Retirement Group LLC boosted its position in Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after acquiring an additional 35 shares during the period. Legacy Financial Group LLC acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $35,000. Optiver Holding B.V. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $33,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 34,538 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $631.81, for a total value of $21,821,453.78. Following the transaction, the insider now owns 99,719,884 shares of the company’s stock, valued at $63,004,019,910.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 195,055 shares of company stock valued at $125,254,657. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.5 %

LLY stock traded up $3.54 during midday trading on Thursday, reaching $781.72. The company had a trading volume of 1,872,888 shares, compared to its average volume of 3,213,223. The company has a market capitalization of $742.76 billion, a P/E ratio of 135.99, a PEG ratio of 1.70 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $334.58 and a 1 year high of $800.78. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a 50 day moving average of $727.96 and a two-hundred day moving average of $636.01.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company’s revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. On average, equities research analysts expect that Eli Lilly and Company will post 12.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LLY. Barclays boosted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. BMO Capital Markets upped their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $689.52.

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.