IFM Investors Pty Ltd lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,225 shares of the company’s stock after purchasing an additional 11,125 shares during the period. IFM Investors Pty Ltd’s holdings in Eli Lilly and were worth $17,603,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Wealthcare Capital Management LLC purchased a new stake in shares of Eli Lilly and during the 1st quarter worth approximately $30,000. Perennial Advisors LLC purchased a new stake in shares of Eli Lilly and during the 4th quarter worth approximately $31,000. DB Wealth Management Group LLC purchased a new stake in shares of Eli Lilly and during the 4th quarter worth approximately $34,000. Retirement Group LLC purchased a new position in Eli Lilly and in the 4th quarter valued at approximately $33,000. Finally, Archer Investment Corp grew its stake in Eli Lilly and by 83.3% in the 4th quarter. Archer Investment Corp now owns 220 shares of the company’s stock valued at $37,000 after buying an additional 100 shares in the last quarter. Institutional investors own 75.59% of the company’s stock.
Shares of NYSE LLY traded up $1.27 during mid-day trading on Friday, reaching $196.21. 1,823,874 shares of the company were exchanged, compared to its average volume of 3,939,115. Eli Lilly and Company has a 52 week low of $129.21 and a 52 week high of $218.00. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $188.17 billion, a PE ratio of 32.06, a PEG ratio of 1.57 and a beta of 0.37. The company’s 50 day moving average price is $187.11 and its 200 day moving average price is $178.80.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Friday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 13th. Eli Lilly and’s dividend payout ratio is currently 56.29%.
Eli Lilly and announced that its board has authorized a stock repurchase program on Monday, May 3rd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research firms recently weighed in on LLY. Truist lifted their price objective on shares of Eli Lilly and from $200.00 to $215.00 in a research note on Monday, February 1st. Cowen lifted their price objective on shares of Eli Lilly and from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 12th. Mizuho reduced their price objective on shares of Eli Lilly and from $228.00 to $216.00 and set a “buy” rating for the company in a research note on Tuesday, May 4th. Barclays reduced their price objective on shares of Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, May 4th. Finally, Bank of America boosted their price target on shares of Eli Lilly and from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $200.75.
In other Eli Lilly and news, Director Jackson P. Tai purchased 1,366 shares of the stock in a transaction on Friday, April 30th. The stock was acquired at an average cost of $182.84 per share, with a total value of $249,759.44. Following the completion of the purchase, the director now directly owns 60,649 shares of the company’s stock, valued at approximately $11,089,063.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 125,284 shares of the business’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $209.69, for a total transaction of $26,270,801.96. Following the completion of the sale, the insider now directly owns 110,422,933 shares of the company’s stock, valued at $23,154,584,820.77. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Eli Lilly and Company Profile
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products worldwide. It offers Baqsimi for severe hypoglycemia; 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, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
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