MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $45.39 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in Eli Lilly and Company (NYSE:LLY) by 17.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 58,342 shares of the company’s stock after selling 12,316 shares during the quarter. Eli Lilly and Company accounts for 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 27th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Eli Lilly and Company were worth $45,388,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $26,000. Core Wealth Advisors Inc. boosted its stake in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Tidemark LLC acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $29,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC raised its stake in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Argus increased 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 report on Tuesday, May 14th. Bank of America restated a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Stock Down 0.8 %

LLY stock opened at $906.71 on Wednesday. The stock has a fifty day moving average of $818.06 and a 200-day moving average of $743.26. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The company has a market capitalization of $861.75 billion, a price-to-earnings ratio of 133.54, a PEG ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid 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 is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,894 shares of company stock valued at $727,475,118. Company 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.