Draper Asset Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,071 shares of the company’s stock after selling 91 shares during the period. Eli Lilly and accounts for 0.5% of Draper Asset Management LLC’s holdings, making the stock its 23rd biggest position. Draper Asset Management LLC’s holdings in Eli Lilly and were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Eli Lilly and by 116.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,155,001 shares of the company’s stock valued at $4,886,278,000 after acquiring an additional 14,060,388 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Eli Lilly and by 189.5% during the first quarter. Jennison Associates LLC now owns 5,440,137 shares of the company’s stock worth $1,016,326,000 after acquiring an additional 3,561,294 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Eli Lilly and by 12.2% during the first quarter. Ameriprise Financial Inc. now owns 8,349,657 shares of the company’s stock worth $1,560,069,000 after acquiring an additional 908,748 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Eli Lilly and during the second quarter worth $115,618,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Eli Lilly and by 548.8% during the first quarter. Rockefeller Capital Management L.P. now owns 640,415 shares of the company’s stock worth $119,641,000 after acquiring an additional 541,706 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.
LLY traded up $2.01 during trading on Wednesday, reaching $235.10. 99,426 shares of the company’s stock were exchanged, compared to its average volume of 3,539,611. Eli Lilly and Company has a one year low of $129.21 and a one year high of $275.87. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $225.47 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.86 and a beta of 0.25. The firm has a fifty day moving average price of $251.93 and a two-hundred day moving average price of $218.56.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, August 12th. Eli Lilly and’s dividend payout ratio is currently 42.88%.
In other news, major shareholder Lilly Endowment Inc sold 236,542 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $256.12, for a total value of $60,583,137.04. Following the sale, the insider now directly owns 108,537,712 shares of the company’s stock, valued at approximately $27,798,678,797.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 1,044,132 shares of company stock worth $257,735,592. Insiders own 0.13% of the company’s stock.
A number of research firms recently weighed in on LLY. Truist Financial reaffirmed a “buy” rating and issued a $225.00 target price on shares of Eli Lilly and in a research report on Tuesday, June 8th. The Goldman Sachs Group lifted their price objective on shares of Eli Lilly and from $252.00 to $270.00 and gave the company a “conviction-buy” rating in a research report on Monday, June 14th. Cantor Fitzgerald lifted their target price on shares of Eli Lilly and from $245.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. Truist Securities lifted their target price on shares of Eli Lilly and from $225.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.
Further Reading: Initial Coin Offering (ICO)
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