Apollon Wealth Management LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Apollon Wealth Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 38.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,651 shares of the company’s stock after buying an additional 5,421 shares during the quarter. Apollon Wealth Management LLC’s holdings in Eli Lilly and Company were worth $15,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB raised its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares during the last quarter. Values Added Financial LLC grew its holdings in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after acquiring an additional 17 shares during the period. Brown Miller Wealth Management LLC increased its position in Eli Lilly and Company by 36.5% during the third quarter. Brown Miller Wealth Management LLC now owns 445 shares of the company’s stock valued at $394,000 after acquiring an additional 119 shares during the last quarter. Montis Financial LLC lifted its holdings in Eli Lilly and Company by 8.5% in the third quarter. Montis Financial LLC now owns 513 shares of the company’s stock valued at $455,000 after acquiring an additional 40 shares during the period. Finally, Mechanics Bank Trust Department boosted its position in Eli Lilly and Company by 0.6% in the third quarter. Mechanics Bank Trust Department now owns 3,916 shares of the company’s stock worth $3,469,000 after purchasing an additional 22 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LLY has been the subject of several research reports. Barclays reduced their price target on shares of 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. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Performance

LLY opened at $878.09 on Monday. The stock has a market capitalization of $833.58 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a fifty day moving average of $789.87 and a 200 day moving average of $843.31.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 51.24%.

About Eli Lilly and Company

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.