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

Pegasus Asset Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 79.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,104 shares of the company’s stock after buying an additional 2,256 shares during the quarter. Eli Lilly and Company comprises 1.5% of Pegasus Asset Management Inc.’s portfolio, making the stock its 23rd largest holding. Pegasus Asset Management Inc.’s holdings in Eli Lilly and Company were worth $3,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Hara Capital LLC bought a new position in shares of Eli Lilly and Company in the third quarter worth $58,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $50,000. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price target 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. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 1.1 %

Shares of NYSE LLY opened at $866.69 on Thursday. The firm’s fifty day moving average is $797.80 and its 200 day moving average is $845.87. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $822.77 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 1.35 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (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 86.26%. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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 $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

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.