Magnolia Capital Advisors LLC Has $450,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

Magnolia Capital Advisors LLC grew its position in Eli Lilly and Company (NYSE:LLY) by 27.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 583 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Summit Financial Strategies Inc. increased its stake in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the last quarter. Prio Wealth Limited Partnership grew its holdings in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. Hummer Financial Advisory Services Inc increased its position in Eli Lilly and Company by 1.0% during the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock worth $1,126,000 after buying an additional 12 shares during the last quarter. James Hambro & Partners LLP raised its stake in Eli Lilly and Company by 3.7% in the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after buying an additional 12 shares during the period. Finally, Inscription Capital LLC lifted its position in shares of Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.0 %

Shares of Eli Lilly and Company stock opened at $811.47 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $682.53 and a 12-month high of $972.53. The company has a market capitalization of $770.35 billion, a price-to-earnings ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. The firm’s 50-day moving average price is $783.56 and its two-hundred day moving average price is $843.75.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut 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. Wells Fargo & Company decreased their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

About Eli Lilly and Company

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.