Penobscot Investment Management Company Inc. Buys 552 Shares of Eli Lilly and Company (NYSE:LLY)

Penobscot Investment Management Company Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,380 shares of the company’s stock after buying an additional 552 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Eli Lilly and Company were worth $3,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $26,000. Thompson Investment Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at $27,000. Legacy Financial Group LLC acquired a new position in Eli Lilly and Company in the third quarter valued at $35,000. Optiver Holding B.V. acquired a new position in Eli Lilly and Company in the third quarter valued at $36,000. Finally, Family CFO Inc acquired a new position in Eli Lilly and Company in the third quarter valued at $40,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $39.51 during trading on Tuesday, reaching $776.71. 4,714,075 shares of the company’s stock traded hands, compared to its average volume of 3,036,286. The company has a market capitalization of $738.00 billion, a P/E ratio of 134.72, a PEG ratio of 1.60 and a beta of 0.34. 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 firm’s 50-day moving average is $760.89 and its 200 day moving average is $668.00. Eli Lilly and Company has a 1 year low of $392.26 and a 1 year high of $800.78.

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, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the company posted $2.09 EPS. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 12.51 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LLY shares. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Bank of America upped their price objective 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. The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Barclays upped their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $728.05.

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.