M&T Bank Corp trimmed its stake in Eli Lilly And Co (NYSE:LLY) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,027 shares of the company’s stock after selling 5,924 shares during the quarter. M&T Bank Corp’s holdings in Eli Lilly And Co were worth $27,701,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Meridian Wealth Management LLC acquired a new position in Eli Lilly And Co in the first quarter valued at $38,000. Manchester Financial Inc. acquired a new position in Eli Lilly And Co in the second quarter valued at $40,000. Litman Gregory Asset Management LLC acquired a new position in Eli Lilly And Co in the second quarter valued at $47,000. Personal Wealth Partners acquired a new position in Eli Lilly And Co in the second quarter valued at $53,000. Finally, Kavar Capital Partners LLC acquired a new position in Eli Lilly And Co in the second quarter valued at $55,000. 76.78% of the stock is owned by institutional investors.
Shares of NYSE LLY traded down $1.24 on Wednesday, hitting $112.72. The company had a trading volume of 159,242 shares, compared to its average volume of 3,150,539. Eli Lilly And Co has a 12-month low of $103.65 and a 12-month high of $132.13. The business has a 50 day moving average of $110.66 and a two-hundred day moving average of $117.33. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 4.98. The firm has a market capitalization of $109.06 billion, a P/E ratio of 20.30, a PEG ratio of 2.00 and a beta of 0.16.
Eli Lilly And Co (NYSE:LLY) last issued its earnings results on Tuesday, July 30th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.05. Eli Lilly And Co had a return on equity of 70.86% and a net margin of 33.76%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Eli Lilly And Co will post 5.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, August 14th. Eli Lilly And Co’s payout ratio is 46.49%.
Several brokerages have commented on LLY. TheStreet lowered Eli Lilly And Co from a “b+” rating to a “c+” rating in a research note on Thursday, May 9th. ValuEngine lowered Eli Lilly And Co from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research lowered Eli Lilly And Co from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Goldman Sachs Group began coverage on Eli Lilly And Co in a research note on Tuesday, May 28th. They set a “buy” rating and a $135.00 price target for the company. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $123.49.
Eli Lilly And Co Company Profile
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in 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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