8,179 Shares in Eli Lilly and Company (NYSE:LLY) Acquired by Towneley Capital Management Inc DE

Towneley Capital Management Inc DE purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 8,179 shares of the company’s stock, valued at approximately $6,314,000. Eli Lilly and Company accounts for 1.5% of Towneley Capital Management Inc DE’s holdings, making the stock its 14th biggest position.

Several other institutional investors have also made changes to their positions in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Hara Capital LLC bought a new position in Eli Lilly and Company during the third quarter valued at approximately $58,000. Finally, Compass Financial Services Inc bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.9 %

LLY opened at $872.98 on Thursday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm’s fifty day moving average price is $792.27 and its two-hundred day moving average price is $843.94. The company has a market capitalization of $828.74 billion, a P/E ratio of 74.55, a P/E/G ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted 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 86.26% and a net margin of 23.51%. On average, analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

Analysts Set New Price Targets

Several brokerages recently weighed in on LLY. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Bank of America reissued 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.