Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 182.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 797,927 shares of the company's stock after acquiring an additional 515,279 shares during the quarter. Eli Lilly and Company accounts for about 1.7% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 11th largest position. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Eli Lilly and Company worth $659,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. FWG Holdings LLC raised its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC raised its holdings in shares of Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp raised its holdings in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on LLY shares. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $18.94 during midday trading on Friday, hitting $776.18. 4,109,419 shares of the company's stock were exchanged, compared to its average volume of 3,683,590. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market cap of $735.61 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The firm's 50 day simple moving average is $780.19 and its 200 day simple moving average is $799.96.

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). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio 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.