MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Eli Lilly and Company (NYSE:LLY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,769 shares of the company’s stock after purchasing an additional 139 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Eli Lilly and Company were worth $52,318,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. FPC Investment Advisory Inc. boosted its position in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Fiduciary Advisors Inc. purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $58,000. Finally, Bellwether Advisors LLC purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $66,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 1.3%

Shares of Eli Lilly and Company stock opened at $745.86 on Wednesday. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company’s 50-day simple moving average is $804.15 and its 200-day simple moving average is $808.91. The firm has a market cap of $706.88 billion, a price-to-earnings ratio of 63.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The company’s revenue was up 45.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LLY shares. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.80.

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.