Meeder Asset Management Inc. increased its stake in Eli Lilly and Company (NYSE:LLY) by 767.1% in the first quarter, HoldingsChannel.com reports. The firm 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 reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Perennial Advisors LLC purchased a new position in shares of Eli Lilly and in the 4th quarter valued at about $31,000. Retirement Group LLC acquired a new stake in Eli Lilly and in the 4th quarter valued at about $33,000. DB Wealth Management Group LLC acquired a new stake in Eli Lilly and in the 4th quarter valued at about $34,000. Accel Wealth Management acquired a new stake in Eli Lilly and in the 4th quarter valued at about $37,000. Finally, Archer Investment Corp grew its stake in Eli Lilly and by 83.3% in the 4th quarter. Archer Investment Corp now owns 220 shares of the company’s stock valued at $37,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 75.59% of the company’s stock.
NYSE:LLY traded up $2.53 during mid-day trading on Tuesday, reaching $188.45. The stock had a trading volume of 60,533 shares, compared to its average volume of 4,094,015. The business’s 50 day moving average is $185.84 and its 200 day moving average is $176.06. Eli Lilly and Company has a fifty-two week low of $129.21 and a fifty-two week high of $218.00. The stock has a market cap of $180.72 billion, a P/E ratio of 30.38, a PEG ratio of 1.57 and a beta of 0.37. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.36 and a quick ratio of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Friday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.80%. Eli Lilly and’s dividend payout ratio (DPR) is currently 56.29%.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 125,284 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $209.69, for a total value of $26,270,801.96. Following the sale, the insider now owns 110,422,933 shares in the company, valued at approximately $23,154,584,820.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $181.38, for a total value of $544,140.00. Following the completion of the sale, the chief accounting officer now owns 5,987 shares in the company, valued at approximately $1,085,922.06. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
A number of equities research analysts recently commented on LLY shares. Morgan Stanley lowered their price objective on shares of Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Securities raised their price target on shares of Eli Lilly and from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 22nd. Mizuho decreased their price target on shares of Eli Lilly and from $228.00 to $216.00 and set a “buy” rating on the stock in a research note on Tuesday. Cowen raised their price target on shares of Eli Lilly and from $195.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Finally, Barclays decreased their price target on shares of Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two equities research 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 an average 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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