4,690 Shares in Eli Lilly and Company (NYSE:LLY) Purchased by Argentarii LLC

Argentarii LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 4,690 shares of the company’s stock, valued at approximately $3,621,000. Eli Lilly and Company comprises approximately 1.8% of Argentarii LLC’s holdings, making the stock its 11th largest holding.

Several other hedge funds have also bought and sold shares of the business. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Shoker Investment Counsel Inc. boosted its stake in Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after acquiring an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors boosted its stake in Eli Lilly and Company by 1.7% during the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after acquiring an additional 13 shares in the last quarter. Altrius Capital Management Inc boosted its stake in Eli Lilly and Company by 1.0% during the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after acquiring an additional 13 shares in the last quarter. Finally, GSG Advisors LLC raised its holdings in Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after buying an additional 13 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LLY shares. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Citigroup decreased their target price 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. Three 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,007.50.

Eli Lilly and Company Stock Down 4.8 %

Shares of LLY stock opened at $868.59 on Friday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock has a market cap of $823.57 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a 50 day simple moving average of $826.63 and a two-hundred day simple moving average of $847.97.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced 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. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.