Argentarii LLC Invests $3.62 Million in Eli Lilly and Company (NYSE:LLY)

Argentarii LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,690 shares of the company’s stock, valued at approximately $3,621,000. Eli Lilly and Company makes up 1.8% of Argentarii LLC’s holdings, making the stock its 11th biggest holding.

Other large investors have also recently bought and sold shares of the company. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Shoker Investment Counsel Inc. lifted its stake in Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after purchasing an additional 13 shares during the last quarter. Vestia Personal Wealth Advisors lifted its stake in Eli Lilly and Company by 1.7% in the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after purchasing an additional 13 shares during the last quarter. Altrius Capital Management Inc lifted its position 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 during the last quarter. Finally, GSG Advisors LLC lifted its position in Eli Lilly and Company by 3.2% during the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in 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. Wolfe Research assumed 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 target for the company. Truist Financial upped their price target 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. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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 on the stock in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Price Performance

LLY stock opened at $868.59 on Friday. The firm’s 50-day moving average price is $826.63 and its two-hundred day moving average price is $847.97. 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 capitalization of $823.57 billion, a price-to-earnings ratio of 74.17, a PEG 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.

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

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

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.