Pegasus Asset Management Inc. Buys 2,256 Shares of Eli Lilly and Company (NYSE:LLY)

Pegasus Asset Management Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 79.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,104 shares of the company’s stock after purchasing an additional 2,256 shares during the quarter. Eli Lilly and Company makes up approximately 1.5% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Pegasus Asset Management Inc.’s holdings in Eli Lilly and Company were worth $3,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Inscription Capital LLC increased its holdings in Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares in the last quarter. Garner Asset Management Corp grew its position 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 worth $411,000 after buying an additional 12 shares during the period. Detalus Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.7% in the 3rd quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock valued at $707,000 after acquiring an additional 13 shares in the last quarter. PSI Advisors LLC boosted its stake in Eli Lilly and Company by 0.4% during the third quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock worth $2,576,000 after acquiring an additional 13 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its holdings in Eli Lilly and Company by 0.3% in the third quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after purchasing an additional 13 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Truist Financial boosted 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 report on Monday, February 3rd. 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 upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Citigroup reduced 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 report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 1.1 %

Eli Lilly and Company stock opened at $866.69 on Thursday. The firm has a 50 day moving average price of $797.80 and a 200-day moving average price of $845.87. 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 twelve month low of $711.40 and a twelve month high of $972.53. The company has a market capitalization of $822.77 billion, a P/E ratio of 74.01, a P/E/G ratio of 1.35 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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 86.26%. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

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

Eli Lilly and 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.