MPI Investment Management Inc. Takes Position in Eli Lilly and Co (LLY)
MPI Investment Management Inc. acquired a new position in shares of Eli Lilly and Co (NYSE:LLY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,343 shares of the company’s stock, valued at approximately $3,154,000. Eli Lilly and accounts for about 3.8% of MPI Investment Management Inc.’s holdings, making the stock its 2nd largest holding.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Airain ltd bought a new stake in Eli Lilly and in the 2nd quarter valued at $567,000. Buckingham Asset Management LLC boosted its holdings in Eli Lilly and by 21.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 3,232 shares of the company’s stock valued at $266,000 after purchasing an additional 568 shares during the period. BSW Wealth Partners boosted its holdings in Eli Lilly and by 0.6% in the 2nd quarter. BSW Wealth Partners now owns 4,774 shares of the company’s stock valued at $393,000 after purchasing an additional 27 shares during the period. Mirador Capital Partners LP boosted its holdings in Eli Lilly and by 5.3% in the 2nd quarter. Mirador Capital Partners LP now owns 12,280 shares of the company’s stock valued at $1,011,000 after purchasing an additional 619 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Eli Lilly and by 166.7% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 430,424 shares of the company’s stock valued at $36,818,000 after purchasing an additional 269,038 shares during the period. 76.45% of the stock is owned by institutional investors and hedge funds.
Shares of Eli Lilly and Co (NYSE LLY) opened at $74.21 on Friday. The stock has a market cap of $84,476.02, a PE ratio of -371.03, a P/E/G ratio of 1.41 and a beta of 0.23. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. Eli Lilly and Co has a 1 year low of $74.19 and a 1 year high of $89.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Thursday, February 15th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, February 14th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Eli Lilly and’s previous quarterly dividend of $0.52. Eli Lilly and’s dividend payout ratio (DPR) is -1,039.95%.
A number of analysts have weighed in on the stock. Credit Suisse Group reissued a “hold” rating and issued a $80.00 price target on shares of Eli Lilly and in a report on Friday, February 2nd. Bank of America dropped their price objective on shares of Eli Lilly and from $88.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. BMO Capital Markets increased their price objective on shares of Eli Lilly and from $73.00 to $74.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. Jefferies Group set a $100.00 price objective on shares of Eli Lilly and and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Goldman Sachs Group cut shares of Eli Lilly and from a “buy” rating to a “neutral” rating and increased their price objective for the company from $86.98 to $95.00 in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.02.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $88.20, for a total value of $17,640,000.00. Following the completion of the sale, the insider now owns 123,084,104 shares in the company, valued at approximately $10,856,017,972.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Susan Mahony sold 36,585 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $86.18, for a total transaction of $3,152,895.30. Following the completion of the sale, the senior vice president now owns 54,885 shares of the company’s stock, valued at approximately $4,729,989.30. The disclosure for this sale can be found here. Insiders have sold a total of 259,610 shares of company stock valued at $22,727,406 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.
Eli Lilly and Profile
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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