New Mexico Educational Retirement Board Acquires 5,200 Shares of Eli Lilly and Company (NYSE:LLY)

New Mexico Educational Retirement Board raised its stake in Eli Lilly and Company (NYSE:LLY) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,208 shares of the company’s stock after acquiring an additional 5,200 shares during the period. Eli Lilly and Company accounts for about 1.2% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 6th biggest holding. New Mexico Educational Retirement Board’s holdings in Eli Lilly and Company were worth $35,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LLY. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after acquiring an additional 659,838 shares during the period. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Morgan Stanley raised its holdings in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after buying an additional 83,915 shares during the last quarter. Norges Bank acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. Finally, Capital Research Global Investors grew its holdings in Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after buying an additional 325,342 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.4 %

LLY traded down $3.66 during trading on Friday, reaching $905.38. The company had a trading volume of 3,375,426 shares, compared to its average volume of 2,579,751. The firm’s 50-day simple moving average is $814.40 and its 200 day simple moving average is $739.86. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market cap of $860.48 billion, a price-to-earnings ratio of 133.34, a PEG ratio of 1.98 and a beta of 0.36. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $915.54.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock valued at $672,385,964 over the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Argus raised their price objective 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. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Company Profile

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.