Grove Bank & Trust trimmed its holdings in shares of Eli Lilly and Co (NYSE:LLY) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,285 shares of the company’s stock after selling 1,560 shares during the period. Grove Bank & Trust’s holdings in Eli Lilly and were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in LLY. MARSHALL WACE ASIA Ltd acquired a new position in Eli Lilly and in the 1st quarter worth $4,840,000. Guardian Life Insurance Co. of America lifted its holdings in Eli Lilly and by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,747 shares of the company’s stock worth $315,000 after buying an additional 25 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Eli Lilly and in the 1st quarter worth $4,840,000. Roosevelt Investment Group Inc. lifted its holdings in Eli Lilly and by 2.3% in the 1st quarter. Roosevelt Investment Group Inc. now owns 3,203 shares of the company’s stock worth $269,000 after buying an additional 72 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Eli Lilly and by 5.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 55,032 shares of the company’s stock worth $4,629,000 after buying an additional 2,830 shares in the last quarter. 76.30% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Lilly Endowment Inc sold 205,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $86.81, for a total transaction of $17,796,050.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Susan Mahony sold 36,585 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $86.18, for a total transaction of $3,152,895.30. Following the sale, the senior vice president now owns 54,885 shares in the company, valued at approximately $4,729,989.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 651,088 shares of company stock worth $56,439,586. 0.20% of the stock is owned by company insiders.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. Eli Lilly and’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. analysts expect that Eli Lilly and Co will post 4.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Thursday, February 15th will be paid a dividend of $0.5625 per share. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, February 14th. This represents a $2.25 annualized dividend and a yield of 2.64%. Eli Lilly and’s dividend payout ratio is 98.58%.
A number of brokerages have commented on LLY. BMO Capital Markets set a $73.00 price objective on shares of Eli Lilly and and gave the stock a “sell” rating in a report on Tuesday, December 5th. Jefferies Group reiterated a “buy” rating and issued a $89.00 price objective on shares of Eli Lilly and in a report on Thursday, August 31st. Leerink Swann boosted their price objective on shares of Eli Lilly and from $92.00 to $93.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $105.00 price objective (up previously from $103.00) on shares of Eli Lilly and in a report on Friday, September 8th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Eli Lilly and in a report on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $90.25.
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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