Eli Lilly and Company (NYSE:LLY) is Arizona State Retirement System’s 8th Largest Position

Arizona State Retirement System raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 234,287 shares of the company’s stock after buying an additional 2,731 shares during the period. Eli Lilly and Company comprises about 1.4% of Arizona State Retirement System’s portfolio, making the stock its 8th largest holding. Arizona State Retirement System’s holdings in Eli Lilly and Company were worth $212,119,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independent Advisor Alliance increased its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares in the last quarter. Apexium Financial LP increased its stake in shares of Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares in the last quarter. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Eli Lilly and Company in the 1st quarter worth about $6,916,000. Finally, M&G Plc acquired a new stake in Eli Lilly and Company in the 1st quarter worth about $8,896,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.0 %

Eli Lilly and Company stock opened at $912.64 on Friday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock’s fifty day simple moving average is $896.03 and its 200-day simple moving average is $826.65. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $867.38 billion, a P/E ratio of 134.43, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities analysts expect that Eli Lilly and Company will post 16.51 earnings per share 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. Stockholders 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 payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Argus lifted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Bank of America boosted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 737,410 shares of company stock valued at $669,719,100. Insiders own 0.13% of the company’s stock.

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.