Arcadia Investment Management Corp MI Has $2.57 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Arcadia Investment Management Corp MI grew its holdings in Eli Lilly and Company (NYSE:LLY) by 148.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,833 shares of the company’s stock after acquiring an additional 1,694 shares during the period. Arcadia Investment Management Corp MI’s holdings in Eli Lilly and Company were worth $2,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $37,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $6.72 during mid-day trading on Friday, reaching $906.03. 639,165 shares of the company were exchanged, compared to its average volume of 3,046,913. The company has a fifty day simple moving average of $896.03 and a 200-day simple moving average of $826.65. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a market cap of $861.10 billion, a PE ratio of 134.43, a PEG 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 EPS 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80. Following the transaction, the insider now owns 97,793,810 shares in the company, valued at approximately $84,178,955,771.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 737,410 shares of company stock worth $669,719,100. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Argus lifted their price target 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. Jefferies Financial Group lifted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two research 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 company has a consensus rating of “Moderate Buy” and an average price target of $961.76.

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.