Eli Lilly and Company (NYSE:LLY) Shares Acquired by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 79.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,104 shares of the company's stock after acquiring an additional 2,256 shares during the quarter. Eli Lilly and Company comprises 1.5% of Pegasus Asset Management Inc.'s holdings, making the stock its 23rd biggest position. Pegasus Asset Management Inc.'s holdings in Eli Lilly and Company were worth $3,940,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company's stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company's stock valued at $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company's stock valued at $523,991,000 after purchasing an additional 678,209 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company's stock valued at $1,032,737,000 after purchasing an additional 584,866 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LLY. Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Citigroup dropped 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 report on Tuesday, January 28th. Wolfe Research initiated 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 on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY traded up $3.17 during trading hours on Friday, hitting $876.29. 2,775,916 shares of the stock were exchanged, compared to its average volume of 3,728,728. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a market cap of $831.88 billion, a price-to-earnings ratio of 74.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42. The stock's 50-day moving average price is $799.63 and its two-hundred day moving average price is $846.07.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 return on equity of 86.26% and a net margin of 23.51%. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is 51.24%.

Eli Lilly and Company declared that its board has authorized 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 shares through open market purchases. Shares buyback programs are usually a sign that the company's board 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.