Pitti Group Wealth Management LLC Purchases 1,236 Shares of Eli Lilly and Company (NYSE:LLY)

Pitti Group Wealth Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 292.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,659 shares of the company’s stock after buying an additional 1,236 shares during the quarter. Eli Lilly and Company comprises 1.1% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Pitti Group Wealth Management LLC’s holdings in Eli Lilly and Company were worth $967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. KRS Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.2% in the third quarter. KRS Capital Management LLC now owns 4,788 shares of the company’s stock worth $2,572,000 after purchasing an additional 57 shares during the last quarter. TFG Advisers LLC increased its position in shares of Eli Lilly and Company by 4.6% during the third quarter. TFG Advisers LLC now owns 3,181 shares of the company’s stock valued at $1,709,000 after acquiring an additional 141 shares during the last quarter. Investment Research & Advisory Group Inc. increased its position in shares of Eli Lilly and Company by 2.1% during the third quarter. Investment Research & Advisory Group Inc. now owns 3,053 shares of the company’s stock valued at $1,640,000 after acquiring an additional 64 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Eli Lilly and Company by 5.0% during the third quarter. Zullo Investment Group Inc. now owns 1,085 shares of the company’s stock valued at $583,000 after acquiring an additional 52 shares during the last quarter. Finally, Cardinal Point Capital Management ULC purchased a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $283,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $8.64 during midday trading on Friday, hitting $733.51. 2,009,249 shares of the company’s stock were exchanged, compared to its average volume of 2,265,427. Eli Lilly and Company has a 52-week low of $380.77 and a 52-week high of $800.78. The stock has a 50-day moving average price of $761.79 and a two-hundred day moving average price of $666.67. 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 company has a market cap of $696.95 billion, a P/E ratio of 126.47, a PEG ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm’s revenue was up 28.1% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated 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 owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LLY. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Bank of America boosted their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Barclays boosted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley boosted their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $728.05.

About Eli Lilly and Company

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.