Meiji Yasuda Asset Management Co Ltd. Has $24.02 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,527 shares of the company’s stock after acquiring an additional 1,427 shares during the period. Eli Lilly and Company accounts for 1.0% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 14th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Eli Lilly and Company were worth $24,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Twelve Points Wealth Management LLC boosted its stake in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares during the period. Verum Partners LLC grew its stake in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares in the last quarter. Acorn Creek Capital LLC raised its stake in Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Eli Lilly and Company by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.9 %

LLY opened at $906.17 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company’s 50 day moving average price is $896.70 and its two-hundred day moving average price is $835.96. The firm has a market capitalization of $861.23 billion, a price-to-earnings ratio of 133.46, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 451,900 shares of company stock valued at $418,732,178 over the last ninety days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

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.