State of Michigan Retirement System Raises Stock Position in Eli Lilly and Company $LLY

State of Michigan Retirement System boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 265,504 shares of the company’s stock after buying an additional 1,700 shares during the period. Eli Lilly and Company accounts for approximately 1.1% of State of Michigan Retirement System’s holdings, making the stock its 17th biggest position. State of Michigan Retirement System’s holdings in Eli Lilly and Company were worth $206,968,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in Eli Lilly and Company in the 1st quarter worth $27,000. Blume Capital Management Inc. increased its stake in Eli Lilly and Company by 46.7% in the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock worth $34,000 after buying an additional 14 shares in the last quarter. IMG Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the 2nd quarter worth $35,000. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at about $40,000. Finally, TD Capital Management LLC boosted its holdings in shares of Eli Lilly and Company by 129.2% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the company’s stock valued at $46,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.2%

Shares of NYSE:LLY opened at $862.96 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $935.63. The company has a 50-day moving average price of $780.74 and a 200 day moving average price of $771.71. The company has a market cap of $816.76 billion, a price-to-earnings ratio of 56.40, a PEG ratio of 1.21 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.7%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 39.22%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LLY shares. UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a report on Friday, August 8th. Daiwa Capital Markets downgraded shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective for the company. in a report on Sunday, August 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a report on Monday, August 11th. Morgan Stanley dropped their price objective on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. Finally, Cantor Fitzgerald increased their price objective on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Insider Transactions at Eli Lilly and Company

In other news, Director J Erik Fyrwald acquired 1,565 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the purchase, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gabrielle Sulzberger acquired 117 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares of the company’s stock, valued at $1,733,109.54. The trade was a 4.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 4,514 shares of company stock worth $2,894,841 in the last quarter. Company insiders own 0.13% of the company’s stock.

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.