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

Procyon Advisors LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,942 shares of the company’s stock after buying an additional 419 shares during the period. Procyon Advisors LLC’s holdings in Eli Lilly and Company were worth $3,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Everpar Advisors LLC boosted its position in Eli Lilly and Company by 0.6% during the 4th quarter. Everpar Advisors LLC now owns 2,680 shares of the company’s stock worth $2,069,000 after acquiring an additional 17 shares during the period. Tompkins Financial Corp lifted its position in shares of Eli Lilly and Company by 7.4% in the fourth quarter. Tompkins Financial Corp now owns 33,270 shares of the company’s stock worth $25,684,000 after purchasing an additional 2,288 shares in the last quarter. Yarger Wealth Strategies LLC boosted its holdings in shares of Eli Lilly and Company by 30.1% during the fourth quarter. Yarger Wealth Strategies LLC now owns 450 shares of the company’s stock worth $347,000 after purchasing an additional 104 shares during the period. Woodstock Corp grew its position in Eli Lilly and Company by 1.4% during the fourth quarter. Woodstock Corp now owns 8,268 shares of the company’s stock valued at $6,383,000 after purchasing an additional 117 shares in the last quarter. Finally, First Pacific Financial increased its stake in Eli Lilly and Company by 13.1% in the 4th quarter. First Pacific Financial now owns 147 shares of the company’s stock valued at $114,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on LLY. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $726.24 on Friday. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The company has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock’s 50-day simple moving average is $781.14 and its 200 day simple moving average is $854.71.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 analyst estimates of $12.09 billion. During the same period last year, the firm earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, sell-side 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 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, February 14th. 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 currently 56.22%.

Eli Lilly and Company declared that its board has approved a share buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

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.