LifePro Asset Management Sells 724 Shares of Eli Lilly and Company (NYSE:LLY)

LifePro Asset Management lowered its position in Eli Lilly and Company (NYSE:LLY) by 35.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,317 shares of the company’s stock after selling 724 shares during the period. LifePro Asset Management’s holdings in Eli Lilly and Company were worth $618,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Silicon Valley Capital Partners bought a new position in Eli Lilly and Company during the 1st quarter worth about $25,000. Bogart Wealth LLC boosted its stake in shares of Eli Lilly and Company by 193.3% during the 1st quarter. Bogart Wealth LLC now owns 88 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Laffer Tengler Investments acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth about $33,000. Raleigh Capital Management Inc. boosted its stake in shares of Eli Lilly and Company by 156.4% during the 1st quarter. Raleigh Capital Management Inc. now owns 100 shares of the company’s stock worth $34,000 after buying an additional 61 shares during the last quarter. Finally, Tanglewood Legacy Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $37,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LLY. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Morgan Stanley increased their price objective on shares of Eli Lilly and Company from $617.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 5th. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $375.00 to $500.00 in a research note on Tuesday, June 20th. HSBC began coverage on shares of Eli Lilly and Company in a research note on Friday, July 14th. They issued a “buy” rating and a $560.00 target price for the company. Finally, StockNews.com began coverage on shares of Eli Lilly and Company in a research note on Thursday, August 17th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $532.78.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $3.61 during trading hours on Monday, hitting $572.05. The company had a trading volume of 542,773 shares, compared to its average volume of 3,024,549. The firm has a market cap of $543.04 billion, a PE ratio of 79.37, a PEG ratio of 2.47 and a beta of 0.32. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.13 and a quick ratio of 0.87. Eli Lilly and Company has a one year low of $296.32 and a one year high of $601.84. The firm has a 50-day moving average of $512.56 and a 200 day moving average of $439.28.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.98 by $0.13. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The company had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, sell-side analysts expect that Eli Lilly and Company will post 9.84 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is presently 62.87%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 34,156 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total transaction of $15,509,556.48. Following the transaction, the insider now directly owns 101,387,286 shares of the company’s stock, valued at $46,037,938,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 34,156 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total value of $15,509,556.48. Following the transaction, the insider now directly owns 101,387,286 shares of the company’s stock, valued at $46,037,938,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $546.51, for a total transaction of $327,906.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,378 shares in the company, valued at $2,939,130.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,010,309 shares of company stock valued at $21,095,701,670. 0.13% of the stock is currently owned by company insiders.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.