Serenus Wealth Advisors LLC Invests $331,000 in Eli Lilly and Company (NYSE:LLY)

Serenus Wealth Advisors LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 429 shares of the company’s stock, valued at approximately $331,000.

A number of other hedge funds have also recently added to or reduced their stakes in LLY. Summit Financial Strategies Inc. grew its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the period. Prio Wealth Limited Partnership boosted its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc grew its holdings in Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after purchasing an additional 12 shares during the period. James Hambro & Partners LLP increased its position in shares of Eli Lilly and Company by 3.7% in the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after buying an additional 12 shares in the last quarter. Finally, Inscription Capital LLC raised its stake in shares of Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after buying an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial lifted 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 report on Monday, February 3rd. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company cut their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Citigroup decreased 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 equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $878.09 on Monday. The firm has a market cap of $833.58 billion, a PE ratio of 74.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The business’s fifty day simple moving average is $789.87 and its 200-day simple moving average is $843.31.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. Equities analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

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

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.