Skandinaviska Enskilda Banken AB publ decreased its position in shares of Eli Lilly And Co (NYSE:LLY) by 26.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 595,918 shares of the company’s stock after selling 213,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Eli Lilly And Co were worth $63,948,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Eli Lilly And Co by 37.8% during the second quarter. Morgan Stanley now owns 4,473,537 shares of the company’s stock valued at $381,727,000 after buying an additional 1,227,888 shares in the last quarter. BlackRock Inc. raised its holdings in Eli Lilly And Co by 1.3% during the second quarter. BlackRock Inc. now owns 66,644,897 shares of the company’s stock valued at $5,686,808,000 after buying an additional 864,451 shares in the last quarter. Investec Asset Management LTD raised its holdings in Eli Lilly And Co by 49.6% during the second quarter. Investec Asset Management LTD now owns 2,528,279 shares of the company’s stock valued at $215,738,000 after buying an additional 838,271 shares in the last quarter. Smith Asset Management Group LP bought a new position in Eli Lilly And Co during the second quarter valued at about $65,407,000. Finally, Unigestion Holding SA bought a new position in Eli Lilly And Co during the second quarter valued at about $64,279,000. 76.17% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Lilly Endowment Inc sold 151,793 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $103.23, for a total transaction of $15,669,591.39. Following the transaction, the insider now directly owns 120,555,804 shares in the company, valued at $12,444,975,646.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Eli & Co Lilly sold 4,531 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $14.33, for a total value of $64,929.23. Following the transaction, the insider now owns 3,934,137 shares in the company, valued at $56,376,183.21. The disclosure for this sale can be found here. Insiders have sold 1,881,684 shares of company stock worth $133,274,076 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
Eli Lilly And Co (NYSE:LLY) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Eli Lilly And Co had a return on equity of 42.84% and a net margin of 1.85%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Analysts anticipate that Eli Lilly And Co will post 5.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.01%. Eli Lilly And Co’s payout ratio is presently 52.57%.
Several equities analysts have weighed in on the company. Guggenheim assumed coverage on Eli Lilly And Co in a report on Monday, October 8th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Eli Lilly And Co from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a report on Tuesday, October 9th. ValuEngine upgraded Eli Lilly And Co from a “hold” rating to a “buy” rating in a report on Monday, October 8th. BMO Capital Markets upgraded Eli Lilly And Co from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $107.00 to $130.00 in a research note on Thursday, October 4th. Finally, JPMorgan Chase & Co. set a $123.00 price objective on Eli Lilly And Co and gave the stock a “buy” rating in a research note on Friday, October 5th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.19.
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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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