Fred Alger Management Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,975 shares of the company’s stock after selling 22,779 shares during the quarter. Fred Alger Management Inc.’s holdings in Eli Lilly and were worth $5,183,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Eli Lilly and by 2.3% in the second quarter. Vanguard Group Inc. now owns 70,207,891 shares of the company’s stock valued at $5,778,109,000 after acquiring an additional 1,610,885 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Eli Lilly and by 2.1% during the second quarter. BlackRock Inc. now owns 63,583,747 shares of the company’s stock worth $5,232,942,000 after purchasing an additional 1,323,259 shares during the last quarter. State Street Corp raised its holdings in shares of Eli Lilly and by 1.6% during the first quarter. State Street Corp now owns 42,363,935 shares of the company’s stock worth $3,563,230,000 after purchasing an additional 651,424 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eli Lilly and by 8.4% in the first quarter. Geode Capital Management LLC now owns 9,103,975 shares of the company’s stock valued at $764,597,000 after buying an additional 708,597 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in Eli Lilly and by 2.8% in the first quarter. Janus Capital Management LLC now owns 8,723,692 shares of the company’s stock valued at $733,731,000 after buying an additional 237,619 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on LLY shares. Credit Suisse Group cut shares of Eli Lilly and from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $84.23 to $88.00 in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and set a $103.00 price target on shares of Eli Lilly and in a research report on Thursday, August 31st. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Thursday, October 26th. Jefferies Group reiterated a “buy” rating and issued a $89.00 target price (down from $94.00) on shares of Eli Lilly and in a report on Thursday, August 24th. Finally, BMO Capital Markets set a $73.00 price target on shares of Eli Lilly and and gave the company a “sell” rating in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $90.25.
Eli Lilly and Company (NYSE:LLY) traded down $0.74 during mid-day trading on Wednesday, hitting $85.32. 3,130,937 shares of the stock traded hands, compared to its average volume of 3,670,362. Eli Lilly and Company has a one year low of $66.39 and a one year high of $89.09. The firm has a market cap of $94,231.72, a PE ratio of 20.92, a PEG ratio of 1.88 and a beta of 0.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.38 and a quick ratio of 1.03.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, October 24th. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. equities research analysts forecast that Eli Lilly and Company will post 4.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.08 annualized dividend and a yield of 2.44%. Eli Lilly and’s dividend payout ratio (DPR) is currently 98.58%.
In related news, SVP Susan Mahony sold 36,585 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $86.18, for a total value of $3,152,895.30. Following the sale, the senior vice president now directly owns 54,885 shares of the company’s stock, valued at $4,729,989.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 205,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $86.81, for a total transaction of $17,796,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 628,588 shares of company stock valued at $53,399,536 over the last 90 days. 0.20% of the stock is currently owned by 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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