World Asset Management Inc trimmed its position in Eli Lilly and Company (NYSE:LLY) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,512 shares of the company’s stock after selling 12,474 shares during the quarter. World Asset Management Inc’s holdings in Eli Lilly and were worth $7,943,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ingalls & Snyder LLC grew its holdings in Eli Lilly and by 1.0% in the 2nd quarter. Ingalls & Snyder LLC now owns 18,642 shares of the company’s stock valued at $1,534,000 after buying an additional 190 shares in the last quarter. S&CO Inc. grew its holdings in Eli Lilly and by 17.5% in the 2nd quarter. S&CO Inc. now owns 8,895 shares of the company’s stock valued at $732,000 after buying an additional 1,325 shares in the last quarter. River Wealth Advisors LLC grew its holdings in Eli Lilly and by 9.2% in the 2nd quarter. River Wealth Advisors LLC now owns 3,305 shares of the company’s stock valued at $272,000 after buying an additional 279 shares in the last quarter. Cadence Bank NA grew its holdings in Eli Lilly and by 0.4% in the 2nd quarter. Cadence Bank NA now owns 23,720 shares of the company’s stock valued at $1,953,000 after buying an additional 95 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in Eli Lilly and by 57.1% in the 2nd quarter. Grove Bank & Trust now owns 7,845 shares of the company’s stock valued at $646,000 after buying an additional 2,850 shares in the last quarter. 75.72% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Lilly Endowment Inc sold 220,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $83.09, for a total transaction of $18,279,800.00. Following the completion of the transaction, the insider now directly owns 124,049,283 shares in the company, valued at $10,307,254,924.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 590,000 shares of company stock valued at $48,551,300. 0.20% of the stock is owned by company insiders.
Shares of Eli Lilly and Company (LLY) opened at 83.91 on Monday. Eli Lilly and Company has a 12 month low of $64.18 and a 12 month high of $86.72. The company has a market capitalization of $88.53 billion, a P/E ratio of 36.31 and a beta of 0.34. The company’s 50 day moving average price is $80.84 and its 200 day moving average price is $82.02.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Eli Lilly and Company will post $4.16 EPS for the current fiscal year.
A number of research analysts have commented on LLY shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Tuesday, May 30th. TheStreet lowered Eli Lilly and from a “b+” rating to a “c” rating in a report on Wednesday, May 31st. BidaskClub raised Eli Lilly and from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered Eli Lilly and from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Barclays PLC upped their price objective on Eli Lilly and from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.27.
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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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