Elo Mutual Pension Insurance Co Has $65.80 Million Position in Eli Lilly and Company (NYSE:LLY)

Elo Mutual Pension Insurance Co reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 1.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 72,680 shares of the company’s stock after selling 1,049 shares during the quarter. Eli Lilly and Company comprises 1.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 9th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Eli Lilly and Company were worth $65,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tidemark LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter worth about $37,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $906.17 on Wednesday. The stock has a market cap of $861.23 billion, a price-to-earnings ratio of 133.46, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The firm’s 50-day simple moving average is $896.70 and its 200 day simple moving average is $835.96. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

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.