Synergy Asset Management LLC Purchases 3,799 Shares of Eli Lilly and Company (NYSE:LLY)

Synergy Asset Management LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 118.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,011 shares of the company’s stock after acquiring an additional 3,799 shares during the quarter. Synergy Asset Management LLC’s holdings in Eli Lilly and Company were worth $5,802,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC raised its position 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 valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LLY. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. 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. Wells Fargo & Company decreased their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $811.61 on Friday. The stock has a market capitalization of $770.48 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The firm has a fifty day simple moving average of $782.29 and a 200 day simple moving average of $845.82. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts forecast that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

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. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.