Eli Lilly and Company (NYSE:LLY) Stock Holdings Lifted by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 46,208 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. Eli Lilly and Company accounts for about 1.2% of New Mexico Educational Retirement Board’s holdings, making the stock its 6th biggest holding. New Mexico Educational Retirement Board’s holdings in Eli Lilly and Company were worth $35,948,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Simon Quick Advisors LLC boosted its position in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares in the last quarter. Independent Advisor Alliance grew its stake in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP raised its holdings in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after purchasing an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in Eli Lilly and Company in the fourth quarter worth $363,000. Finally, Terril Brothers Inc. lifted its position in Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the completion of the transaction, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57. Following the sale, the insider now directly owns 97,574,139 shares of the company’s stock, valued at $88,077,248,051.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 789,704 shares of company stock valued at $672,385,964. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Argus raised their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Bank of America reiterated a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Price Performance

LLY stock traded down $3.66 during trading on Friday, reaching $905.38. The company’s stock had a trading volume of 3,375,426 shares, compared to its average volume of 2,579,751. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company’s fifty day moving average is $814.40 and its 200-day moving average is $739.86. The company has a market capitalization of $860.48 billion, a P/E ratio of 133.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.36. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $915.54.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. On average, research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

About Eli Lilly and Company

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.