Victory Capital Management Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,904 shares of the company’s stock after selling 26,437 shares during the period. Victory Capital Management Inc.’s holdings in Eli Lilly and were worth $11,350,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of LLY. Heritage Trust Co acquired a new position in Eli Lilly and during the 1st quarter worth $135,000. Point72 Asia Hong Kong Ltd lifted its position in Eli Lilly and by 237.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after acquiring an additional 1,239 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Eli Lilly and during the 2nd quarter worth $148,000. Cornerstone Advisors Inc. raised its position in shares of Eli Lilly and by 18.4% during the second quarter. Cornerstone Advisors Inc. now owns 2,013 shares of the company’s stock valued at $166,000 after buying an additional 313 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Eli Lilly and by 9.5% during 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 during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Shares of Eli Lilly and Company (NYSE LLY) opened at 84.16 on Friday. The company’s 50 day moving average is $84.74 and its 200-day moving average is $82.27. Eli Lilly and Company has a one year low of $64.18 and a one year high of $89.09. The firm has a market capitalization of $88.79 billion, a price-to-earnings ratio of 36.42 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last announced its earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.72%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $0.88 EPS. The company’s revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Eli Lilly and Company will post $4.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.47%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and’s dividend payout ratio (DPR) is currently 98.58%.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 220,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $83.09, for a total transaction of $18,279,800.00. Following the sale, the insider now directly owns 124,049,283 shares of the company’s stock, valued at approximately $10,307,254,924.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 990,000 shares of company stock worth $82,949,650. Company insiders own 0.20% of the company’s stock.
A number of brokerages have recently commented on LLY. Berenberg Bank reaffirmed a “buy” rating and set a $98.00 price objective on shares of Eli Lilly and in a research report on Friday, August 4th. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Thursday. Oppenheimer Holdings, Inc. lowered shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 price target for the company. in a research report on Wednesday, July 26th. BMO Capital Markets reissued an “underperform” rating and issued a $73.00 price target on shares of Eli Lilly and in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $89.00 price objective on shares of Eli Lilly and in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $89.17.
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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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