Heirloom Wealth Management Makes New $4.35 Million Investment in Eli Lilly and Company (NYSE:LLY)

Heirloom Wealth Management purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,457 shares of the company’s stock, valued at approximately $4,347,000. Eli Lilly and Company comprises about 1.7% of Heirloom Wealth Management’s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. Fairfield Bush & CO. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at about $107,000. Roundview Capital LLC boosted its position in shares of Eli Lilly and Company by 2.6% during the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after purchasing an additional 53 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at about $210,000. NewEdge Advisors LLC boosted its position in shares of Eli Lilly and Company by 9.9% during the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at about $561,000. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LLY shares. Citigroup raised their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target for the company. in a report on Wednesday, February 21st. Finally, 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. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $19.64 on Friday, hitting $726.31. The stock had a trading volume of 3,486,055 shares, compared to its average volume of 3,073,465. Eli Lilly and Company has a twelve month low of $369.76 and a twelve month 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 firm’s 50 day moving average price is $763.96 and its 200-day moving average price is $659.59. The company has a market capitalization of $690.11 billion, a price-to-earnings ratio of 125.23, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. On average, equities research analysts predict that Eli Lilly and Company will post 12.52 earnings per share for the current year.

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.