Northwestern Mutual Investment Management Company LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 81.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,059 shares of the company’s stock after selling 159,212 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Eli Lilly and were worth $2,918,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Eli Lilly and by 3.3% in the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock worth $5,769,694,000 after buying an additional 2,181,701 shares during the period. BlackRock Inc. boosted its position in Eli Lilly and by 2,628.5% during the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock valued at $5,236,731,000 after purchasing an additional 59,978,664 shares during the last quarter. State Street Corp boosted its position in Eli Lilly and by 1.6% during the first quarter. State Street Corp now owns 42,363,935 shares of the company’s stock valued at $3,563,230,000 after purchasing an additional 651,424 shares during the last quarter. Geode Capital Management LLC boosted its position in Eli Lilly and by 8.4% during the first quarter. Geode Capital Management LLC now owns 9,103,975 shares of the company’s stock valued at $764,597,000 after purchasing an additional 708,597 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in Eli Lilly and by 2.8% during the first quarter. Janus Capital Management LLC now owns 8,723,692 shares of the company’s stock valued at $733,731,000 after purchasing an additional 237,619 shares during the last quarter. 75.66% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on LLY. Berenberg Bank reissued a “buy” rating and set a $98.00 price objective on shares of Eli Lilly and in a research report on Thursday. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Thursday. BMO Capital Markets set a $73.00 price objective on Eli Lilly and and gave the company a “sell” rating in a research report on Tuesday, October 24th. Leerink Swann lifted their price objective on Eli Lilly and from $92.00 to $93.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $105.00 price objective on shares of Eli Lilly and in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Eli Lilly and currently has an average rating of “Hold” and a consensus price target of $89.76.
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Eli Lilly and Company (LLY) opened at 83.86 on Monday. The company has a market capitalization of $88.47 billion, a price-to-earnings ratio of 36.29 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $64.18 and a 1-year high of $89.09. The stock has a 50 day moving average price of $84.90 and a 200-day moving average price of $82.27.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business posted $0.88 EPS. Eli Lilly and’s revenue was up 9.0% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post $4.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.08 annualized dividend and a yield of 2.48%. Eli Lilly and’s dividend payout ratio (DPR) is currently 98.58%.
In related news, major shareholder Lilly Endowment Inc sold 180,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $81.06, for a total value of $14,590,800.00. Following the completion of the sale, the insider now directly owns 123,865,804 shares in the company, valued at approximately $10,040,562,072.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 770,000 shares of company stock valued at $64,669,850 over the last quarter. 0.20% of the stock is currently owned by company 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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