MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Holdings in Eli Lilly and Company (NYSE:LLY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Eli Lilly and Company (NYSE:LLY) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 70,161 shares of the company’s stock after buying an additional 5,386 shares during the quarter. Eli Lilly and Company comprises 1.7% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 20th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Eli Lilly and Company were worth $54,293,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LLY. Beck Bode LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth about $15,036,000. Dark Forest Capital Management LP purchased a new stake in shares of Eli Lilly and Company in the second quarter worth about $534,000. Beaird Harris Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the period. Comerica Bank grew its stake in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares in the last quarter. Finally, Ninepoint Partners LP bought a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $99,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup lifted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

LLY opened at $784.78 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $776.69 and its 200 day simple moving average is $849.41. The firm has a market cap of $745.01 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 56.22%.

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.