BankPlus Trust Department Invests $5.88 Million in Eli Lilly and Company (NYSE:LLY)

BankPlus Trust Department bought a new position in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,621 shares of the company’s stock, valued at approximately $5,883,000. Eli Lilly and Company comprises approximately 1.9% of BankPlus Trust Department’s holdings, making the stock its 6th biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% during 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 last quarter. FPC Investment Advisory Inc. increased its stake in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the period. Finally, Hara Capital LLC bought a new stake in Eli Lilly and Company in the third quarter valued at approximately $58,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $874.12 on Monday. The company has a market capitalization of $828.82 billion, a PE ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. The business has a fifty day moving average price of $801.33 and a 200-day moving average price of $847.66. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend 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 dividend payout ratio is presently 51.24%.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

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.