Allegiance Financial Group Advisory Services LLC Buys Shares of 267 Eli Lilly and Company (NYSE:LLY)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 267 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Garner Asset Management Corp lifted its stake in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Boston Financial Mangement LLC increased its holdings in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after buying an additional 13 shares during the last quarter. Key Financial Inc grew its holdings in Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after purchasing an additional 13 shares during the last quarter. Shoker Investment Counsel Inc. grew its holdings in Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after purchasing an additional 13 shares during the last quarter. Finally, Vestia Personal Wealth Advisors grew its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

LLY opened at $915.47 on Thursday. The firm has a market capitalization of $868.02 billion, a P/E ratio of 78.18, a P/E/G ratio of 1.40 and a beta of 0.42. The firm’s 50 day moving average is $808.88 and its 200-day moving average is $848.46. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. 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 authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s payout ratio is 51.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LLY shares. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,000.28.

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.