Procyon Advisors LLC Has $3.04 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Procyon Advisors LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,942 shares of the company’s stock after acquiring an additional 419 shares during the period. Procyon Advisors LLC’s holdings in Eli Lilly and Company were worth $3,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Geode Capital Management LLC boosted its position in Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after acquiring an additional 157,741 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after acquiring an additional 169,391 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Eli Lilly and Company by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after acquiring an additional 22,392 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $726.24 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The stock’s fifty day simple moving average is $781.14 and its two-hundred day simple moving average is $854.71. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.83%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

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.