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

Arizona State Retirement System grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 234,287 shares of the company’s stock after buying an additional 2,731 shares during the period. Eli Lilly and Company makes up approximately 1.4% of Arizona State Retirement System’s investment portfolio, making the stock its 8th largest holding. Arizona State Retirement System’s holdings in Eli Lilly and Company were worth $212,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. AMJ Financial Wealth Management acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $201,000. Providence First Trust Co acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $274,000. Aveo Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after acquiring an additional 153 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of Eli Lilly and Company by 19.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after acquiring an additional 377 shares during the period. Finally, Heritage Investors Management Corp grew its holdings in shares of Eli Lilly and Company by 8.5% in the 4th quarter. Heritage Investors Management Corp now owns 842 shares of the company’s stock worth $491,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.0 %

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

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Guggenheim upped their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Argus increased their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 75,510 shares of the 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 directly owns 97,793,810 shares of the company’s stock, valued at approximately $84,178,955,771.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 737,410 shares of company stock valued at $669,719,100. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.