Meeder Advisory Services Inc. Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Meeder Advisory Services Inc. increased its position in Eli Lilly and Company (NYSE:LLY) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,852 shares of the company’s stock after buying an additional 300 shares during the quarter. Eli Lilly and Company accounts for approximately 0.9% of Meeder Advisory Services Inc.’s holdings, making the stock its 21st biggest holding. Meeder Advisory Services Inc.’s holdings in Eli Lilly and Company were worth $8,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lipe & Dalton bought a new position in Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC bought a new position in Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. lifted its stake in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the period. Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC lifted its stake in Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after acquiring an additional 37 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Morgan Stanley restated an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $858.72.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $2.06 during midday trading on Monday, hitting $950.46. The stock had a trading volume of 2,216,506 shares, compared to its average volume of 2,927,538. The firm’s fifty day moving average is $853.13 and its two-hundred day moving average is $767.87. The company has a market capitalization of $903.33 billion, a PE ratio of 139.98, a P/E/G ratio of 2.07 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $443.26 and a 52-week high of $966.10. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the prior year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.