Meeder Asset Management Inc. Has $18.72 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Meeder Asset Management Inc. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 162.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,065 shares of the company’s stock after buying an additional 14,909 shares during the period. Eli Lilly and Company makes up approximately 1.2% of Meeder Asset Management Inc.’s holdings, making the stock its 21st biggest holding. Meeder Asset Management Inc.’s holdings in Eli Lilly and Company were worth $18,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors raised its holdings 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 last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. Capital Research Global Investors raised its holdings in shares of Eli Lilly and Company by 4.5% in the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after purchasing an additional 325,342 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $2.06 during trading on Monday, reaching $950.46. The company’s stock had a trading volume of 2,216,506 shares, compared to its average volume of 2,927,538. The business’s 50-day moving average price is $853.13 and its 200-day moving average price is $767.87. The firm has a market cap 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 quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

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

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Barclays raised 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. Bank of America reissued a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Truist Financial reissued a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $858.72.

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.