Bourgeon Capital Management LLC Invests $1.08 Million in Eli Lilly and Company (NYSE:LLY)

Bourgeon Capital Management LLC purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,399 shares of the company’s stock, valued at approximately $1,080,000.

Several other large investors have also modified their holdings of the stock. Aspire Private Capital LLC raised its stake in shares of Eli Lilly and Company by 22.4% during the fourth quarter. Aspire Private Capital LLC now owns 2,140 shares of the company’s stock worth $1,652,000 after purchasing an additional 392 shares during the last quarter. Octavia Wealth Advisors LLC raised its position in Eli Lilly and Company by 25.0% in the fourth quarter. Octavia Wealth Advisors LLC now owns 735 shares of the company’s stock worth $568,000 after acquiring an additional 147 shares in the last quarter. Commons Capital LLC raised its position in Eli Lilly and Company by 14.0% in the fourth quarter. Commons Capital LLC now owns 408 shares of the company’s stock worth $315,000 after acquiring an additional 50 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Eli Lilly and Company by 2.0% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,226 shares of the company’s stock worth $1,718,000 after acquiring an additional 44 shares in the last quarter. Finally, Enclave Advisors LLC raised its position in Eli Lilly and Company by 7.9% in the fourth quarter. Enclave Advisors LLC now owns 410 shares of the company’s stock worth $317,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LLY shares. Deutsche Bank Aktiengesellschaft cut their price objective 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. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a report 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 issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $766.00 on Friday. The business’s 50-day moving average price is $776.31 and its 200 day moving average price is $850.93. Eli Lilly and Company has a twelve month low of $624.68 and a twelve month high of $972.53. The company has a market capitalization of $727.18 billion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. 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 released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $12.09 billion. During the same quarter last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. 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 56.22%.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated 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. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.