Meeder Asset Management Inc. Buys 5,167 Shares of Eli Lilly and Company (NYSE:LLY)

Meeder Asset Management Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 15.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,587 shares of the company’s stock after acquiring an additional 5,167 shares during the period. Eli Lilly and Company accounts for about 2.2% of Meeder Asset Management Inc.’s holdings, making the stock its 11th biggest holding. Meeder Asset Management Inc.’s holdings in Eli Lilly and Company were worth $33,300,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter valued at approximately $30,000. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the second quarter valued at approximately $36,000. Finally, Cedar Mountain Advisors LLC lifted its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $727.57 on Tuesday. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a market cap of $690.70 billion, a P/E ratio of 78.66, a P/E/G ratio of 2.82 and a beta of 0.43. The firm’s fifty day moving average price is $879.04 and its two-hundred day moving average price is $870.84. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.71%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.