Independent Advisor Alliance Acquires 4,385 Shares of Eli Lilly and Company (NYSE:LLY)

Independent Advisor Alliance raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,968 shares of the company’s stock after acquiring an additional 4,385 shares during the quarter. Independent Advisor Alliance’s holdings in Eli Lilly and Company were worth $33,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. Assetmark Inc. grew its position in shares of Eli Lilly and Company by 7.3% during the third quarter. Assetmark Inc. now owns 49,713 shares of the company’s stock valued at $44,043,000 after purchasing an additional 3,397 shares in the last quarter. Field & Main Bank grew its position in shares of Eli Lilly and Company by 0.3% during the third quarter. Field & Main Bank now owns 8,172 shares of the company’s stock valued at $7,240,000 after purchasing an additional 27 shares in the last quarter. First Personal Financial Services grew its position in shares of Eli Lilly and Company by 24.9% during the third quarter. First Personal Financial Services now owns 301 shares of the company’s stock valued at $267,000 after purchasing an additional 60 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its position in shares of Eli Lilly and Company by 48.6% during the third quarter. Sheets Smith Wealth Management now owns 13,065 shares of the company’s stock valued at $11,574,000 after purchasing an additional 4,271 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Down 4.8 %

LLY stock opened at $868.59 on Monday. The firm has a 50 day moving average of $826.63 and a 200 day moving average of $847.24. The stock has a market capitalization of $823.57 billion, a PE ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. 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 has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.50.

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.