Meeder Asset Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Meeder Asset Management Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,292 shares of the company’s stock after selling 6,295 shares during the quarter. Eli Lilly and Company accounts for approximately 1.7% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. Meeder Asset Management Inc.’s holdings in Eli Lilly and Company were worth $24,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LLY. Principal Financial Group Inc. boosted its holdings in Eli Lilly and Company by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after acquiring an additional 60,306 shares during the period. Tradition Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 14.0% during the third quarter. Tradition Wealth Management LLC now owns 1,403 shares of the company’s stock worth $1,243,000 after purchasing an additional 172 shares during the last quarter. Timber Creek Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 0.7% during the third quarter. Timber Creek Capital Management LLC now owns 12,632 shares of the company’s stock valued at $11,191,000 after purchasing an additional 86 shares during the period. Plotkin Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the third quarter worth about $845,000. Finally, Erste Asset Management GmbH purchased a new position in Eli Lilly and Company in the 3rd quarter worth about $35,618,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.2 %

Eli Lilly and Company stock opened at $820.30 on Monday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business has a fifty day moving average price of $844.31 and a 200-day moving average price of $835.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LLY shares. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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.