Eli Lilly and Company (NYSE:LLY) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,093 shares of the company’s stock after selling 228 shares during the period. Eli Lilly and accounts for approximately 0.6% of Cim Investment Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Cim Investment Management Inc.’s holdings in Eli Lilly and were worth $1,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LLY. Knowledge Leaders Capital LLC boosted its holdings in shares of Eli Lilly and by 1.2% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 3,320 shares of the company’s stock valued at $762,000 after purchasing an additional 40 shares in the last quarter. Sage Rhino Capital LLC boosted its holdings in shares of Eli Lilly and by 2.1% during the 2nd quarter. Sage Rhino Capital LLC now owns 2,087 shares of the company’s stock valued at $479,000 after acquiring an additional 42 shares in the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of Eli Lilly and by 64.6% during the 2nd quarter. Atlas Capital Advisors LLC now owns 107 shares of the company’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Prospera Financial Services Inc raised its position in Eli Lilly and by 0.7% during the 2nd quarter. Prospera Financial Services Inc now owns 6,551 shares of the company’s stock worth $1,504,000 after purchasing an additional 43 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC raised its position in Eli Lilly and by 1.0% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 4,460 shares of the company’s stock worth $1,024,000 after purchasing an additional 44 shares during the last quarter. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

LLY stock traded down $0.55 during mid-day trading on Thursday, reaching $235.89. 28,657 shares of the company traded hands, compared to its average volume of 3,457,061. The stock has a market cap of $226.22 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 1.86 and a beta of 0.25. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 2.21. Eli Lilly and Company has a fifty-two week low of $129.21 and a fifty-two week high of $275.87. The firm’s 50 day moving average price is $247.65 and its 200 day moving average price is $223.58.

Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Monday, August 2nd. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.59 billion. Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. Eli Lilly and’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. On average, analysts anticipate that Eli Lilly and Company will post 7.87 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. Cantor Fitzgerald raised their target price on Eli Lilly and from $245.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Berenberg Bank raised Eli Lilly and from a “hold” rating to a “buy” rating and raised their target price for the stock from $240.00 to $270.00 in a research report on Monday. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $300.00 target price on shares of Eli Lilly and in a research report on Friday, September 24th. Citigroup raised Eli Lilly and from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $210.00 to $265.00 in a research report on Wednesday, September 29th. They noted that the move was a valuation call. Finally, Truist assumed coverage on Eli Lilly and in a research report on Tuesday, July 27th. They issued a “buy” rating and a $262.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $258.22.

In other news, major shareholder Lilly Endowment Inc sold 15,610 shares of the business’s stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $237.06, for a total value of $3,700,506.60. Following the transaction, the insider now owns 108,762,100 shares in the company, valued at approximately $25,783,143,426. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 492,615 shares of company stock worth $128,197,709 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.

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Institutional Ownership by Quarter for Eli Lilly and (NYSE:LLY)

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