Mirae Asset Global Investments Co. Ltd. raised its stake in Eli Lilly and Company (NYSE:LLY) by 37.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 105,125 shares of the company’s stock after buying an additional 28,491 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Eli Lilly and were worth $8,842,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Milestone Group Inc. acquired a new stake in Eli Lilly and during the first quarter worth $213,000. Assetmark Inc. raised its stake in Eli Lilly and by 226.1% in the first quarter. Assetmark Inc. now owns 12,913 shares of the company’s stock worth $1,086,000 after buying an additional 8,953 shares during the period. HL Financial Services LLC raised its stake in Eli Lilly and by 15.8% in the first quarter. HL Financial Services LLC now owns 93,272 shares of the company’s stock valued at $7,845,000 after buying an additional 12,735 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in Eli Lilly and during the first quarter valued at approximately $5,601,000. Finally, Twin Capital Management Inc. raised its stake in Eli Lilly and by 297.7% in the first quarter. Twin Capital Management Inc. now owns 44,380 shares of the company’s stock valued at $3,733,000 after buying an additional 33,220 shares during the last quarter. Institutional investors and hedge funds own 75.61% of the company’s stock.
Shares of Eli Lilly and Company (LLY) traded down 0.12% during mid-day trading on Tuesday, hitting $81.97. The company had a trading volume of 3,292,856 shares. Eli Lilly and Company has a 12 month low of $64.18 and a 12 month high of $86.72. The company has a market cap of $86.48 billion, a PE ratio of 35.47 and a beta of 0.34. The firm has a 50-day moving average of $82.99 and a 200-day moving average of $81.53.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post $4.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, August 11th. Eli Lilly and’s dividend payout ratio (DPR) is presently 90.04%.
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Several equities analysts have recently issued reports on LLY shares. BMO Capital Markets set a $71.00 price objective on shares of Eli Lilly and and gave the company a “sell” rating in a report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, July 17th. Credit Suisse Group restated an “outperform” rating and set a $87.00 price objective on shares of Eli Lilly and in a report on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $92.00 price objective (down previously from $94.00) on shares of Eli Lilly and in a report on Saturday, April 29th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $100.00 price target on shares of Eli Lilly and in a report on Monday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $88.27.
In related news, VP Michael J. Harrington sold 22,833 shares of Eli Lilly and stock in a transaction on Friday, June 9th. The stock was sold at an average price of $79.97, for a total value of $1,825,955.01. Following the transaction, the vice president now directly owns 62,056 shares in the company, valued at approximately $4,962,618.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of Eli Lilly and stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $83.05, for a total value of $17,855,750.00. Following the completion of the transaction, the insider now owns 124,475,804 shares in the company, valued at $10,337,715,522.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 669,733 shares of company stock worth $55,845,287. 0.20% of the stock is owned by insiders.
About Eli Lilly and
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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