Meeder Asset Management Inc. Sells 8,058 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Meeder Asset Management Inc. reduced its stake in Eli Lilly by 25.8% during the first quarter, leaving it with 23,234 shares, which constitutes 1.3% of their investment portfolio.
• A number of institutional investors have made significant changes to their holdings in Eli Lilly, with WestEnd Advisors LLC upping its stake by 210.0% while several others acquired new positions.
• Eli Lilly recently missed analysts' earnings estimates, reporting $3.34 EPS for the quarter compared to the consensus of $4.64, while also declaring a quarterly dividend of $1.50 per share.

Meeder Asset Management Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,234 shares of the company's stock after selling 8,058 shares during the period. Eli Lilly and Company makes up about 1.3% of Meeder Asset Management Inc.'s holdings, making the stock its 15th largest holding. Meeder Asset Management Inc.'s holdings in Eli Lilly and Company were worth $19,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department lifted its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Eli Lilly and Company during the first quarter worth about $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $48,000. Institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

LLY has been the subject of a number of recent research reports. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group decreased their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Price Performance

Shares of LLY traded down $3.19 during mid-day trading on Wednesday, reaching $759.76. The stock had a trading volume of 4,331,834 shares, compared to its average volume of 3,787,427. The firm has a market cap of $720.05 billion, a price-to-earnings ratio of 61.82, a PEG ratio of 1.15 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The business has a fifty day moving average of $773.36 and a 200 day moving average of $800.41. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The company's quarterly revenue was up 45.2% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Eli Lilly and 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.