National Asset Management Inc. lessened its position in Eli Lilly and Company (NYSE:LLY) by 35.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,334 shares of the company’s stock after selling 12,758 shares during the period. National Asset Management Inc.’s holdings in Eli Lilly and were worth $5,341,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ethic Inc. lifted its stake in shares of Eli Lilly and by 15.0% in the first quarter. Ethic Inc. now owns 13,230 shares of the company’s stock worth $2,472,000 after buying an additional 1,728 shares in the last quarter. Perigon Wealth Management LLC lifted its position in Eli Lilly and by 11.0% during the first quarter. Perigon Wealth Management LLC now owns 8,242 shares of the company’s stock valued at $1,540,000 after purchasing an additional 816 shares during the period. B. Metzler seel. Sohn & Co. Holding AG lifted its position in Eli Lilly and by 10.1% during the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 101,540 shares of the company’s stock valued at $18,969,000 after purchasing an additional 9,333 shares during the period. Payden & Rygel lifted its position in Eli Lilly and by 1,134.3% during the second quarter. Payden & Rygel now owns 117,225 shares of the company’s stock valued at $26,905,000 after purchasing an additional 107,728 shares during the period. Finally, Usca Ria LLC lifted its position in Eli Lilly and by 2.9% during the second quarter. Usca Ria LLC now owns 17,217 shares of the company’s stock valued at $3,952,000 after purchasing an additional 483 shares during the period. Hedge funds and other institutional investors own 81.65% of the company’s stock.
In related news, major shareholder Lilly Endowment Inc sold 3,060 shares of the firm’s stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $274.08, for a total transaction of $838,684.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,044,132 shares of company stock valued at $257,735,592 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Monday, August 2nd. The company reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.02). The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. Equities analysts expect that Eli Lilly and Company will post 7.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, August 12th. This represents a $3.40 annualized dividend and a yield of 1.44%. Eli Lilly and’s payout ratio is 42.88%.
A number of brokerages recently weighed in on LLY. Mizuho increased their price objective on shares of Eli Lilly and from $250.00 to $279.00 and gave the company a “buy” rating in a research report on Wednesday, August 4th. Truist Securities increased their price objective on shares of Eli Lilly and from $225.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, July 2nd. Morgan Stanley increased their price objective on shares of Eli Lilly and from $207.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, August 4th. Cowen increased their price target on shares of Eli Lilly and from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, August 30th. Finally, Truist began coverage on shares of Eli Lilly and in a research report on Tuesday, July 27th. They issued a “buy” rating and a $262.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Eli Lilly and has an average rating of “Buy” and a consensus target price of $250.41.
About Eli Lilly and
Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.
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