American International Group Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,619 shares of the company’s stock after selling 461 shares during the period. American International Group Inc.’s holdings in Eli Lilly and were worth $26,294,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LLY. First Command Financial Services Inc. raised its position in Eli Lilly and by 7.3% in the first quarter. First Command Financial Services Inc. now owns 1,227 shares of the company’s stock valued at $103,000 after buying an additional 84 shares in the last quarter. Heritage Trust Co acquired a new position in Eli Lilly and during the first quarter valued at about $135,000. Penserra Capital Management LLC raised its position in Eli Lilly and by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,024 shares of the company’s stock valued at $170,000 after buying an additional 176 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Eli Lilly and during the first quarter valued at about $179,000. Finally, Sandy Spring Bank increased its position in Eli Lilly and by 51.8% in the first quarter. Sandy Spring Bank now owns 2,198 shares of the company’s stock valued at $185,000 after buying an additional 750 shares during the last quarter. 75.59% of the stock is owned by institutional investors and hedge funds.
Eli Lilly and Company (NYSE LLY) traded up 0.07% during midday trading on Wednesday, reaching $81.77. 425,767 shares of the company’s stock were exchanged. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $86.72. The stock’s 50-day moving average is $82.77 and its 200-day moving average is $81.92. The stock has a market capitalization of $86.27 billion, a price-to-earnings ratio of 35.38 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. Eli Lilly and’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, equities analysts forecast that Eli Lilly and Company will post $4.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 11th. This represents a $2.08 annualized dividend and a yield of 2.55%. Eli Lilly and’s dividend payout ratio is currently 90.04%.
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LLY has been the topic of several research analyst reports. Zacks Investment Research downgraded Eli Lilly and from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Credit Suisse Group restated an “outperform” rating and set a $87.00 target price on shares of Eli Lilly and in a research report on Wednesday, April 19th. Citigroup Inc. increased their target price on Eli Lilly and from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. BMO Capital Markets set a $71.00 price target on shares of Eli Lilly and and gave the stock a “sell” rating in a report on Tuesday, April 25th. Finally, Argus cut shares of Eli Lilly and from a “buy” rating to a “hold” rating and upped their price target for the stock from $64.18 to $81.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $88.27.
In related news, VP Michael J. Harrington sold 22,833 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the sale, the vice president now directly owns 62,056 shares of the company’s stock, valued at approximately $4,962,618.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Melissa S. Barnes sold 1,900 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.78, for a total transaction of $153,482.00. Following the completion of the sale, the insider now directly owns 14,041 shares in the company, valued at $1,134,231.98. The disclosure for this sale can be found here. Insiders sold a total of 669,733 shares of company stock worth $55,845,287 over the last three months. 0.20% of the stock is currently owned by corporate insiders.
About Eli Lilly and
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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