Meeder Asset Management Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 767.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,764 shares of the company’s stock after acquiring an additional 32,524 shares during the quarter. Meeder Asset Management Inc.’s holdings in Eli Lilly and were worth $6,868,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Perennial Advisors LLC purchased a new stake in Eli Lilly and during the 4th quarter valued at $31,000. DB Wealth Management Group LLC bought a new position in Eli Lilly and in the 4th quarter worth $34,000. Retirement Group LLC bought a new position in Eli Lilly and in the 4th quarter worth $33,000. Archer Investment Corp boosted its holdings in Eli Lilly and by 83.3% in the 4th quarter. Archer Investment Corp now owns 220 shares of the company’s stock worth $37,000 after buying an additional 100 shares during the period. Finally, Accel Wealth Management bought a new position in shares of Eli Lilly and during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 75.59% of the company’s stock.
LLY traded up $2.53 on Tuesday, reaching $188.45. The stock had a trading volume of 60,533 shares, compared to its average volume of 4,094,015. Eli Lilly and Company has a 12-month low of $129.21 and a 12-month high of $218.00. The company has a current ratio of 1.36, a quick ratio of 1.06 and a debt-to-equity ratio of 3.27. The business’s 50-day moving average price is $185.84 and its two-hundred day moving average price is $176.06. The company has a market cap of $180.72 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 1.57 and a beta of 0.37.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Friday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.80%. Eli Lilly and’s dividend payout ratio (DPR) is 56.29%.
In related news, CAO Donald A. Zakrowski sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $181.38, for a total transaction of $544,140.00. Following the transaction, the chief accounting officer now directly owns 5,987 shares in the company, valued at $1,085,922.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 125,284 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $209.69, for a total transaction of $26,270,801.96. Following the transaction, the insider now owns 110,422,933 shares in the company, valued at $23,154,584,820.77. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Several research analysts have commented on LLY shares. Mizuho dropped their price objective on shares of Eli Lilly and from $228.00 to $216.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley decreased their target price on shares of Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays decreased their target price on shares of Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday. Cowen upped their target price on shares of Eli Lilly and from $195.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 12th. Finally, Truist increased their price objective on shares of Eli Lilly and from $200.00 to $215.00 in a research report on Monday, February 1st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $200.75.
About Eli Lilly and
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products worldwide. It offers Baqsimi for severe hypoglycemia; 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, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
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