Trueblood Wealth Management LLC Buys New Stake in Eli Lilly and Company (NYSE:LLY)

Trueblood Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 795 shares of the company’s stock, valued at approximately $463,000.

Several other hedge funds have also added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $27,000. Retirement Group LLC raised its holdings in shares of Eli Lilly and Company by 159.1% in 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 last quarter. Cornerstone Planning Group LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $33,000. Legacy Financial Group LLC bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $35,000. Finally, Optiver Holding B.V. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at about $36,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $0.22 during trading hours on Thursday, hitting $777.96. The company’s stock had a trading volume of 3,187,722 shares, compared to its average volume of 3,235,971. Eli Lilly and Company has a 52-week low of $334.58 and a 52-week high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The business’s 50-day moving average is $730.97 and its two-hundred day moving average is $637.01. The company has a market capitalization of $739.19 billion, a PE ratio of 134.56, a PEG ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion for 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 quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. As a group, research analysts anticipate that Eli Lilly and Company will post 12.42 EPS for the current fiscal year.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 34,538 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $631.81, for a total value of $21,821,453.78. Following the completion of the transaction, the insider now directly owns 99,719,884 shares of the company’s stock, valued at approximately $63,004,019,910.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 195,055 shares of company stock valued at $125,254,657. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LLY shares. Bank of America upped their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Truist Financial reiterated a “buy” rating and issued a $850.00 target price on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Wells Fargo & Company raised their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.