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

Procyon Advisors LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,942 shares of the company's stock after acquiring an additional 419 shares during the period. Procyon Advisors LLC's holdings in Eli Lilly and Company were worth $3,043,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock worth $41,000 after purchasing an additional 16 shares during the period. Finally, West Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price for the company. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price target on the stock. Finally, StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,002.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $31.36 during mid-day trading on Friday, reaching $726.24. 5,497,108 shares of the company traded hands, compared to its average volume of 2,736,766. The firm has a market cap of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The stock has a fifty day simple moving average of $781.14 and a 200-day simple moving average of $854.35.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is currently 64.86%.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are 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.