Quadrant Private Wealth Management LLC bought a new position in Eli Lilly And Co (NYSE:LLY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,959 shares of the company’s stock, valued at approximately $210,000.
A number of other hedge funds have also recently modified their holdings of LLY. Morgan Stanley grew its position in Eli Lilly And Co by 37.8% during the 2nd quarter. Morgan Stanley now owns 4,473,537 shares of the company’s stock worth $381,727,000 after purchasing an additional 1,227,888 shares during the period. BlackRock Inc. grew its position in Eli Lilly And Co by 1.3% during the 2nd quarter. BlackRock Inc. now owns 66,644,897 shares of the company’s stock worth $5,686,808,000 after purchasing an additional 864,451 shares during the period. Investec Asset Management LTD grew its position in Eli Lilly And Co by 49.6% during the 2nd quarter. Investec Asset Management LTD now owns 2,528,279 shares of the company’s stock worth $215,738,000 after purchasing an additional 838,271 shares during the period. Smith Asset Management Group LP acquired a new stake in Eli Lilly And Co during the 2nd quarter worth about $65,407,000. Finally, Unigestion Holding SA acquired a new stake in Eli Lilly And Co during the 2nd quarter worth about $64,279,000. Institutional investors own 76.17% of the company’s stock.
In other news, major shareholder Lilly Endowment Inc sold 174,696 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $113.25, for a total transaction of $19,784,322.00. Following the sale, the insider now directly owns 119,005,804 shares in the company, valued at approximately $13,477,407,303. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Eli & Co Lilly sold 700,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $14.00, for a total value of $9,800,000.00. Following the sale, the insider now owns 3,148,647 shares in the company, valued at $44,081,058. The disclosure for this sale can be found here. Insiders have sold a total of 1,881,684 shares of company stock worth $133,274,076 over the last 90 days. Insiders own 0.11% of the company’s stock.
Eli Lilly And Co (NYSE:LLY) last posted its earnings results on Tuesday, November 6th. The company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Eli Lilly And Co had a return on equity of 42.84% and a net margin of 1.85%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Eli Lilly And Co will post 5.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 14th. Eli Lilly And Co’s dividend payout ratio (DPR) is presently 52.57%.
Several brokerages have weighed in on LLY. Credit Suisse Group raised Eli Lilly And Co from an “underperform” rating to a “neutral” rating in a research report on Wednesday, October 31st. ValuEngine downgraded Eli Lilly And Co from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. set a $123.00 price target on Eli Lilly And Co and gave the stock a “buy” rating in a research report on Friday, October 5th. Bank of America increased their price target on Eli Lilly And Co from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Finally, Cantor Fitzgerald set a $100.00 price target on Eli Lilly And Co and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $111.19.
About Eli Lilly And Co
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.
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