Parsec Financial Management Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,762 shares of the company’s stock after acquiring an additional 6,057 shares during the period. Parsec Financial Management Inc.’s holdings in Eli Lilly and were worth $5,027,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in LLY. Acrospire Investment Management LLC boosted its stake in shares of Eli Lilly and by 16.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after purchasing an additional 200 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in Eli Lilly and during the 2nd quarter valued at about $128,000. San Francisco Sentry Investment Group CA purchased a new position in Eli Lilly and during the 2nd quarter valued at about $129,000. 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 valued at $148,000 after acquiring an additional 1,239 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in Eli Lilly and during the 2nd quarter valued at about $148,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Lilly Endowment Inc sold 190,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $82.53, for a total value of $15,680,700.00. Following the completion of the transaction, the insider now directly owns 123,682,287 shares of the company’s stock, valued at $10,207,499,146.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Susan Mahony sold 36,585 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $86.18, for a total value of $3,152,895.30. Following the completion of the transaction, the senior vice president now directly owns 54,885 shares of the company’s stock, valued at $4,729,989.30. The disclosure for this sale can be found here. Insiders sold 628,588 shares of company stock valued at $53,399,536 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Eli Lilly and had a return on equity of 30.27% and a net margin of 9.90%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the company posted $0.88 EPS. Eli Lilly and’s revenue was up 9.0% compared to the same quarter last year. sell-side analysts anticipate that Eli Lilly and Company will post 4.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and’s dividend payout ratio is presently 98.58%.
Several research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “sell” rating and issued a $71.00 target price on shares of Eli Lilly and in a report on Thursday, September 28th. Cowen reaffirmed a “buy” rating and issued a $95.00 target price on shares of Eli Lilly and in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and issued a $89.00 target price (down from $94.00) on shares of Eli Lilly and in a report on Thursday, August 24th. BidaskClub cut shares of Eli Lilly and from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $105.00 target price on shares of Eli Lilly and in a report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $90.25.
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Eli Lilly and Company Profile
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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