Augustine Asset Management Inc. Has $1.26 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Augustine Asset Management Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 300.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,628 shares of the company’s stock after acquiring an additional 1,221 shares during the quarter. Augustine Asset Management Inc.’s holdings in Eli Lilly and Company were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. AMF Tjanstepension AB increased its position in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after acquiring an additional 176,552 shares in the last quarter. Values Added Financial LLC increased its position in Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after acquiring an additional 17 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Eli Lilly and Company by 3.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock valued at $776,000 after acquiring an additional 29 shares in the last quarter. Prospect Financial Services LLC increased its position in Eli Lilly and Company by 22.3% in the 3rd quarter. Prospect Financial Services LLC now owns 1,566 shares of the company’s stock valued at $1,387,000 after acquiring an additional 286 shares in the last quarter. Finally, Petredis Investment Advisors LLC increased its position in Eli Lilly and Company by 0.3% in the 3rd quarter. Petredis Investment Advisors LLC now owns 11,442 shares of the company’s stock valued at $10,137,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.9 %

Eli Lilly and Company stock opened at $872.98 on Thursday. 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 $711.40 and a fifty-two week high of $972.53. The company’s 50 day simple moving average is $792.27 and its 200 day simple moving average is $843.94. The firm has a market capitalization of $828.74 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 86.26%. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 dividend on an annualized basis and a yield of 0.69%. 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 presently 44.41%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note 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. Wells Fargo & Company reduced their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.