Meeder Asset Management Inc. boosted its holdings in Eli Lilly And Co (NYSE:LLY) by 44.5% during the second quarter, Holdings Channel.com reports. The fund owned 74,370 shares of the company’s stock after buying an additional 22,887 shares during the quarter. Meeder Asset Management Inc.’s holdings in Eli Lilly And Co were worth $8,239,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Bessemer Group Inc. increased its position in shares of Eli Lilly And Co by 2,354.5% during the 2nd quarter. Bessemer Group Inc. now owns 569,510 shares of the company’s stock valued at $63,096,000 after purchasing an additional 546,307 shares during the last quarter. Janney Capital Management LLC bought a new position in shares of Eli Lilly And Co during the 1st quarter valued at about $246,000. Thoroughbred Financial Services LLC increased its position in shares of Eli Lilly And Co by 1.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 7,612 shares of the company’s stock valued at $988,000 after purchasing an additional 105 shares during the last quarter. Smithfield Trust Co. increased its position in shares of Eli Lilly And Co by 1.6% during the 1st quarter. Smithfield Trust Co. now owns 7,277 shares of the company’s stock valued at $944,000 after purchasing an additional 114 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of Eli Lilly And Co by 0.9% during the 1st quarter. Advisor Group Inc. now owns 66,256 shares of the company’s stock valued at $8,601,000 after purchasing an additional 567 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.
In other Eli Lilly And Co news, CFO Joshua L. Smiley acquired 426 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average price of $118.03 per share, for a total transaction of $50,280.78. Following the acquisition, the chief financial officer now owns 30,410 shares in the company, valued at approximately $3,589,292.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Harrington sold 16,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.72, for a total value of $1,867,520.00. Following the completion of the sale, the vice president now owns 110,300 shares of the company’s stock, valued at approximately $12,874,216. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Eli Lilly And Co (NYSE:LLY) last issued its earnings results on Tuesday, July 30th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.05. The company had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Eli Lilly And Co had a return on equity of 70.86% and a net margin of 33.76%. Eli Lilly And Co’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. Sell-side analysts expect that Eli Lilly And Co will post 5.72 EPS for the current year.
The firm 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 $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 14th. Eli Lilly And Co’s dividend payout ratio (DPR) is currently 46.49%.
Several equities analysts have recently commented on the company. Goldman Sachs Group assumed coverage on Eli Lilly And Co in a research report on Tuesday, May 28th. They set a “buy” rating and a $135.00 price objective on the stock. Edward Jones upgraded Eli Lilly And Co from a “hold” rating to a “buy” rating and set a $117.49 price objective on the stock in a research report on Tuesday, April 23rd. TheStreet cut Eli Lilly And Co from a “b+” rating to a “c+” rating in a report on Thursday, May 9th. Zacks Investment Research cut Eli Lilly And Co from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, BMO Capital Markets increased their target price on Eli Lilly And Co from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $123.49.
Eli Lilly And Co Profile
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
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