Meeder Asset Management Inc. Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Meeder Asset Management Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,292 shares of the company’s stock after selling 6,295 shares during the period. Eli Lilly and Company makes up about 1.7% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 14th largest holding. 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.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LLY. AIA Group Ltd increased its holdings in Eli Lilly and Company by 26.1% in the 4th quarter. AIA Group Ltd now owns 26,690 shares of the company’s stock worth $20,605,000 after buying an additional 5,530 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Eli Lilly and Company by 2.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,498 shares of the company’s stock valued at $1,158,000 after acquiring an additional 40 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Saratoga Research & Investment Management purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $24,169,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $3,628,000. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading 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 firm’s 50 day moving average price is $844.31 and its 200-day moving average price is $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 cap of $777.78 billion, a P/E ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34.

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

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of 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. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company 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.