Sequoia Financial Advisors LLC Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sequoia Financial Advisors LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 48.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,735 shares of the company’s stock after purchasing an additional 33,245 shares during the quarter. Eli Lilly and Company comprises approximately 0.8% of Sequoia Financial Advisors LLC’s holdings, making the stock its 24th biggest holding. Sequoia Financial Advisors LLC’s holdings in Eli Lilly and Company were worth $78,539,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. 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 during the period. WCM Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 14.9% during the 3rd quarter. WCM Investment Management LLC now owns 13,260 shares of the company’s stock valued at $11,639,000 after acquiring an additional 1,716 shares in the last quarter. Everhart Financial Group Inc. boosted its position in Eli Lilly and Company by 14.1% during the 3rd quarter. Everhart Financial Group Inc. now owns 5,433 shares of the company’s stock worth $4,813,000 after purchasing an additional 672 shares during the period. Vestia Personal Wealth Advisors increased its holdings in Eli Lilly and Company by 1.7% in the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after purchasing an additional 13 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in Eli Lilly and Company by 7.0% in the third quarter. Apollon Wealth Management LLC now owns 14,230 shares of the company’s stock valued at $12,607,000 after purchasing an additional 936 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $823.95 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $781.25 billion, a price-to-earnings ratio of 70.36, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The business has a 50 day simple moving average of $828.77 and a 200-day simple moving average of $845.45.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.