Ballast Inc. Buys 501 Shares of Eli Lilly and Company (NYSE:LLY)

Ballast Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,636 shares of the company’s stock after purchasing an additional 501 shares during the quarter. Eli Lilly and Company makes up approximately 0.9% of Ballast Inc.’s holdings, making the stock its 19th biggest holding. Ballast Inc.’s holdings in Eli Lilly and Company were worth $2,702,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC increased its holdings in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares in the last quarter. Liontrust Investment Partners LLP bought a new position in shares of Eli Lilly and Company in the third quarter valued at about $8,326,000. WASHINGTON TRUST Co lifted its position in Eli Lilly and Company by 16.5% during the 4th quarter. WASHINGTON TRUST Co now owns 18,892 shares of the company’s stock worth $11,013,000 after buying an additional 2,671 shares in the last quarter. Armstrong Fleming & Moore Inc bought a new stake in Eli Lilly and Company during the 2nd quarter worth about $357,000. Finally, Redhawk Wealth Advisors Inc. increased its position in Eli Lilly and Company by 0.9% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,986 shares of the company’s stock valued at $3,752,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 34,538 shares of the company’s stock in a transaction 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 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 legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 195,055 shares of company stock valued at $125,254,657. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LLY shares. Barclays upped their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. lifted 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 research report on Friday, March 15th. Bank of America increased their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial reaffirmed a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a report on Friday, March 22nd. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. 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 has an average rating of “Moderate Buy” and a consensus price target of $689.52.

Eli Lilly and Company Price Performance

Shares of LLY opened at $777.96 on Friday. The company’s 50-day moving average is $730.97 and its 200-day moving average is $637.01. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The firm has a market capitalization of $739.19 billion, a PE ratio of 134.13, a PEG ratio of 1.71 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $334.58 and a fifty-two week high of $800.78.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating 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 firm 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 firm earned $2.09 EPS. The business’s revenue was up 28.1% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 12.42 EPS 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.