Mystic Asset Management Inc. Buys 51 Shares of Eli Lilly and Company (NYSE:LLY)

Mystic Asset Management Inc. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,618 shares of the company’s stock after acquiring an additional 51 shares during the period. Mystic Asset Management Inc.’s holdings in Eli Lilly and Company were worth $2,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Principal Financial Group Inc. grew its stake in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after buying an additional 60,306 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $606,000. Glass Wealth Management Co LLC boosted its position in shares of Eli Lilly and Company by 41.7% during the 3rd quarter. Glass Wealth Management Co LLC now owns 2,309 shares of the company’s stock worth $2,046,000 after acquiring an additional 680 shares in the last quarter. Prudent Man Advisors LLC bought a new position in Eli Lilly and Company in the third quarter valued at approximately $276,000. Finally, Aljian Capital Management LLC acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $1,089,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated 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 of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $825.48 on Tuesday. The business has a 50-day moving average of $832.05 and a 200-day moving average of $841.68. 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 company has a market capitalization of $782.70 billion, a price-to-earnings ratio of 70.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and 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.