Riverhead Capital Management LLC Acquires 2,233 Shares of Eli Lilly And Co (LLY)

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Riverhead Capital Management LLC boosted its position in Eli Lilly And Co (NYSE:LLY) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,731 shares of the company’s stock after acquiring an additional 2,233 shares during the quarter. Riverhead Capital Management LLC’s holdings in Eli Lilly And Co were worth $2,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in Eli Lilly And Co in the second quarter worth about $103,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Eli Lilly And Co in the second quarter worth about $114,000. Legacy Advisors LLC lifted its holdings in shares of Eli Lilly And Co by 118.0% during the second quarter. Legacy Advisors LLC now owns 1,354 shares of the company’s stock valued at $116,000 after purchasing an additional 733 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Eli Lilly And Co during the second quarter valued at approximately $128,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Eli Lilly And Co during the first quarter valued at approximately $134,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on LLY shares. Zacks Investment Research lowered shares of Eli Lilly And Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Goldman Sachs Group set a $100.00 price objective on shares of Eli Lilly And Co and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Credit Suisse Group boosted their price objective on shares of Eli Lilly And Co from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Wednesday, July 25th. JPMorgan Chase & Co. set a $100.00 price objective on shares of Eli Lilly And Co and gave the stock a “buy” rating in a report on Monday, June 11th. Finally, Berenberg Bank lowered shares of Eli Lilly And Co from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a report on Wednesday, July 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Eli Lilly And Co has an average rating of “Buy” and an average target price of $100.69.

In other news, major shareholder Eli & Co Lilly sold 4,531 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $14.33, for a total transaction of $64,929.23. Following the sale, the insider now directly owns 3,934,137 shares in the company, valued at approximately $56,376,183.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel Skovronsky bought 10,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were acquired at an average price of $86.22 per share, for a total transaction of $862,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 1,732,813 shares of company stock worth $168,655,414. Corporate insiders own 0.11% of the company’s stock.

Shares of LLY stock traded up $1.66 during mid-day trading on Friday, reaching $107.03. 3,822,138 shares of the company’s stock traded hands, compared to its average volume of 2,834,898. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.40 and a quick ratio of 1.09. Eli Lilly And Co has a 12 month low of $73.69 and a 12 month high of $107.24. The company has a market cap of $113.17 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.75 and a beta of 0.28.

Eli Lilly And Co (NYSE:LLY) last released its earnings results on Tuesday, July 24th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.20. The company had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Eli Lilly And Co had a negative net margin of 0.60% and a positive return on equity of 39.84%. Eli Lilly And Co’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 EPS. equities research analysts expect that Eli Lilly And Co will post 5.47 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 2.10%. The ex-dividend date is Tuesday, August 14th. Eli Lilly And Co’s payout ratio is currently 52.57%.

Eli Lilly And Co Company Profile

Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.

See Also: Diversification in Investing

Institutional Ownership by Quarter for Eli Lilly And Co (NYSE:LLY)

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