Mogy Joel R Investment Counsel Inc. Raises Stake in Eli Lilly and Company (NYSE:LLY)

Mogy Joel R Investment Counsel Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 39.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,177 shares of the company’s stock after purchasing an additional 7,733 shares during the period. Eli Lilly and Company accounts for 1.2% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 26th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Eli Lilly and Company were worth $15,842,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $35,000. Optiver Holding B.V. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $36,000. Finally, Family CFO Inc bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upped their price target on shares of 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. Truist Financial reiterated a “buy” rating and set a $850.00 price objective on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley increased their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $728.05.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $8.64 during midday trading on Friday, hitting $733.51. The company had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. The stock has a market cap of $696.95 billion, a price-to-earnings ratio of 126.47, a PEG ratio of 1.58 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $761.79 and a 200 day simple moving average of $666.06. Eli Lilly and Company has a 12-month low of $380.77 and a 12-month high of $800.78.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the firm posted $2.09 EPS. Eli Lilly and Company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, analysts predict that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal 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.