Sierra Summit Advisors LLC Buys 1,767 Shares of Eli Lilly and Company (NYSE:LLY)

Sierra Summit Advisors LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,856 shares of the company’s stock after purchasing an additional 1,767 shares during the quarter. Eli Lilly and Company makes up approximately 1.7% of Sierra Summit Advisors LLC’s holdings, making the stock its 27th biggest position. Sierra Summit Advisors LLC’s holdings in Eli Lilly and Company were worth $8,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC grew its stake in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after acquiring an additional 291,875 shares during the period. Wellington Management Group LLP increased its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Finally, Fisher Asset Management LLC lifted its holdings in Eli Lilly and Company by 3.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock valued at $4,042,276,000 after purchasing an additional 178,007 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 6.5 %

Shares of LLY stock opened at $737.56 on Monday. Eli Lilly and Company has a 1-year low of $692.96 and a 1-year high of $972.53. The company has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.51. 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 stock has a 50 day simple moving average of $848.36 and a 200-day simple moving average of $831.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LLY shares. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

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.