RFG Bristol Wealth Advisors LLC Purchases Shares of 2,683 Eli Lilly and Company (NYSE:LLY)

RFG Bristol Wealth Advisors LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,683 shares of the company’s stock, valued at approximately $2,071,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Highline Wealth Partners LLC lifted its holdings in shares of 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 purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $48,000. Finally, Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $50,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 2.7 %

Shares of LLY stock opened at $803.70 on Wednesday. The stock’s 50 day simple moving average is $847.53 and its 200 day simple moving average is $834.15. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $762.04 billion, a price-to-earnings ratio of 68.63, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Finally, Citigroup decreased 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 research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

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.