Meyer Handelman Co. Sells 477 Shares of Eli Lilly and Company $LLY

Meyer Handelman Co. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 27,852 shares of the company’s stock after selling 477 shares during the period. Meyer Handelman Co.’s holdings in Eli Lilly and Company were worth $21,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the second quarter worth $27,000. Evolution Wealth Management Inc. purchased a new position in Eli Lilly and Company during the 2nd quarter worth $29,000. Steph & Co. grew its stake in Eli Lilly and Company by 290.0% during the 3rd quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $31,000. Finally, Bare Financial Services Inc raised its stake in Eli Lilly and Company by 263.6% in the second quarter. Bare Financial Services Inc now owns 40 shares of the company’s stock valued at $31,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $1,077.26 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $1,111.99. The company has a 50 day simple moving average of $986.75 and a two-hundred day simple moving average of $841.37. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.09 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be issued a $1.73 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, February 13th. This represents a $6.92 annualized dividend and a dividend yield of 0.6%. Eli Lilly and Company’s payout ratio is presently 29.35%.

Analysts Set New Price Targets

LLY has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and set a $1,163.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, December 3rd. HSBC reiterated a “hold” rating and issued a $1,070.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Berenberg Bank raised their price target on shares of Eli Lilly and Company from $830.00 to $950.00 and gave the stock a “hold” rating in a report on Tuesday, December 2nd. Finally, Leerink Partnrs raised shares of Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,155.36.

About Eli Lilly and Company

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.