Meeder Asset Management Inc. Purchases 8,355 Shares of Eli Lilly and Company (NYSE:LLY)

Meeder Asset Management Inc. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 34.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,420 shares of the company’s stock after acquiring an additional 8,355 shares during the quarter. Eli Lilly and Company makes up about 2.1% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Meeder Asset Management Inc.’s holdings in Eli Lilly and Company were worth $29,352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Morton Brown Family Wealth LLC grew its holdings in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Core Wealth Advisors Inc. raised its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Eli Lilly and Company in the first quarter worth $39,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 1.5 %

LLY stock opened at $935.09 on Friday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a market capitalization of $888.74 billion, a price-to-earnings ratio of 137.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $896.94 and its two-hundred day simple moving average is $831.83.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. JPMorgan Chase & Co. raised 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, July 11th. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the completion of the sale, the insider now directly owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 646,878 shares of company stock worth $591,465,138. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and 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.