Palisade Asset Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,559 shares of the company’s stock after selling 200 shares during the period. Palisade Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,813,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in Eli Lilly and Company by 3.1% in the first quarter. Nisa Investment Advisors LLC now owns 324,377 shares of the company’s stock worth $27,280,000 after buying an additional 9,680 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in Eli Lilly and Company during the first quarter worth $320,000. Pictet North America Advisors SA acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $8,818,000. Washington Trust Bank increased its stake in Eli Lilly and Company by 92.8% in the first quarter. Washington Trust Bank now owns 10,369 shares of the company’s stock valued at $872,000 after buying an additional 4,990 shares in the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $12,653,000. 75.49% of the stock is currently owned by institutional investors.
Shares of Eli Lilly and Company (NYSE LLY) traded up 0.56% during mid-day trading on Monday, reaching $82.34. The company had a trading volume of 2,538,037 shares. The company has a market capitalization of $86.98 billion, a price-to-earnings ratio of 39.82 and a beta of 0.36. The stock has a 50 day moving average of $80.08 and a 200-day moving average of $78.91. Eli Lilly and Company has a 52 week low of $64.18 and a 52 week high of $86.72.
Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, April 25th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.22 billion. Eli Lilly and Company had a return on equity of 26.64% and a net margin of 10.13%. Eli Lilly and Company’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. On average, analysts expect that Eli Lilly and Company will post $4.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.53%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 100.48%.
A number of equities analysts have issued reports on LLY shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $92.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, May 16th. BMO Capital Markets set a $71.00 price target on shares of Eli Lilly and Company and gave the stock a “sell” rating in a report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group restated an “outperform” rating and issued a $87.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $97.00 price target (up from $95.00) on shares of Eli Lilly and Company in a research report on Saturday, March 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Eli Lilly and Company currently has a consensus rating of “Hold” and a consensus price target of $87.59.
In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $84.67, for a total transaction of $17,780,700.00. Following the completion of the sale, the insider now directly owns 124,690,804 shares of the company’s stock, valued at approximately $10,557,570,374.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Melissa S. Barnes sold 1,900 shares of Eli Lilly and Company stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.78, for a total value of $153,482.00. Following the sale, the insider now directly owns 14,041 shares of the company’s stock, valued at $1,134,231.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,733 shares of company stock valued at $21,829,137. 0.20% of the stock is currently owned by company insiders.
About Eli Lilly and Company
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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