Hexavest Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 3.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,336,742 shares of the company’s stock after selling 53,079 shares during the period. Eli Lilly and accounts for about 1.4% of Hexavest Inc.’s holdings, making the stock its 11th biggest holding. Hexavest Inc. owned 0.13% of Eli Lilly and worth $110,014,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Eli Lilly and by 2,628.5% in 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 period. Vanguard Group Inc. grew its holdings 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 valued at $5,769,694,000 after purchasing an additional 2,181,701 shares during the period. Winslow Capital Management LLC grew its holdings in shares of Eli Lilly and by 79.7% in the first quarter. Winslow Capital Management LLC now owns 3,875,968 shares of the company’s stock valued at $326,008,000 after purchasing an additional 1,719,538 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Eli Lilly and by 93.6% in the first quarter. Renaissance Technologies LLC now owns 2,980,400 shares of the company’s stock valued at $250,681,000 after purchasing an additional 1,441,200 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Eli Lilly and by 30.3% in the first quarter. Alliancebernstein L.P. now owns 3,477,371 shares of the company’s stock valued at $292,482,000 after purchasing an additional 808,186 shares during the period. Institutional investors and hedge funds own 75.77% of the company’s stock.
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A number of equities research analysts recently issued reports on LLY shares. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating on shares of Eli Lilly and in a report on Tuesday, May 30th. BMO Capital Markets reissued an “underperform” rating and issued a $71.00 price objective (down previously from $73.00) on shares of Eli Lilly and in a report on Wednesday, September 6th. Oppenheimer Holdings, Inc. lowered shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a research note on Wednesday, July 26th. Finally, TheStreet lowered shares of Eli Lilly and from a “b+” rating to a “c” rating in a research note on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.27.
Shares of Eli Lilly and Company (NYSE LLY) traded down 0.76% during mid-day trading on Friday, reaching $82.44. 5,374,504 shares of the company traded hands. The company has a market capitalization of $86.97 billion, a P/E ratio of 35.67 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $64.18 and a 52-week high of $86.72. The firm’s 50 day moving average price is $80.89 and its 200-day moving average price is $82.06.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, August 11th. Eli Lilly and’s dividend payout ratio is presently 90.04%.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 180,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $81.06, for a total value of $14,590,800.00. Following the completion of the transaction, the insider now owns 123,865,804 shares in the company, valued at approximately $10,040,562,072.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 825,000 shares of company stock valued at $68,456,650. 0.20% of the stock is owned by company insiders.
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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