Mirae Asset Global Investments Co. Ltd. Buys 35,703 Shares of Eli Lilly and Company (NYSE:LLY)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Eli Lilly and Company (NYSE:LLYFree Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,939 shares of the company’s stock after buying an additional 35,703 shares during the quarter. Eli Lilly and Company accounts for approximately 0.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 29th largest position. Mirae Asset Global Investments Co. Ltd.’s holdings in Eli Lilly and Company were worth $259,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPlan Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 13.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 2,070 shares of the company’s stock worth $1,112,000 after acquiring an additional 247 shares during the last quarter. Townsquare Capital LLC raised its holdings in Eli Lilly and Company by 189.0% in the 3rd quarter. Townsquare Capital LLC now owns 19,377 shares of the company’s stock worth $10,408,000 after purchasing an additional 12,673 shares during the period. Holderness Investments Co. lifted its position in Eli Lilly and Company by 71.9% during the third quarter. Holderness Investments Co. now owns 1,105 shares of the company’s stock valued at $594,000 after purchasing an additional 462 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Eli Lilly and Company by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 26,282 shares of the company’s stock valued at $14,117,000 after purchasing an additional 641 shares during the period. Finally, Penserra Capital Management LLC increased its position in Eli Lilly and Company by 18.4% in the third quarter. Penserra Capital Management LLC now owns 6,056 shares of the company’s stock worth $3,251,000 after buying an additional 940 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Citigroup boosted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $816.78.

Read Our Latest Stock Analysis on LLY

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the sale, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the sale, the insider now owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 858,742 shares of company stock valued at $735,573,781. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Up 1.8 %

Shares of NYSE LLY opened at $914.57 on Friday. The stock has a market capitalization of $869.22 billion, a price-to-earnings ratio of 134.69, a P/E/G ratio of 1.99 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $918.50. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $831.69 and its 200-day moving average price is $751.25.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Eli Lilly and Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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