JustInvest LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

JustInvest LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 13.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,054 shares of the company’s stock after selling 2,049 shares during the quarter. JustInvest LLC’s holdings in Eli Lilly and were worth $2,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Eli Lilly and by 8.7% during the second quarter. Harvest Fund Management Co. Ltd now owns 5,461 shares of the company’s stock valued at $1,261,000 after purchasing an additional 435 shares during the period. Greenleaf Trust boosted its stake in shares of Eli Lilly and by 1.4% during the second quarter. Greenleaf Trust now owns 19,027 shares of the company’s stock valued at $4,367,000 after purchasing an additional 257 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Eli Lilly and by 5.8% during the second quarter. Cresset Asset Management LLC now owns 133,567 shares of the company’s stock valued at $30,656,000 after purchasing an additional 7,315 shares during the period. Mission Wealth Management LP boosted its stake in shares of Eli Lilly and by 2.3% during the second quarter. Mission Wealth Management LP now owns 5,449 shares of the company’s stock valued at $1,251,000 after purchasing an additional 124 shares during the period. Finally, abrdn plc boosted its stake in shares of Eli Lilly and by 28.3% during the second quarter. abrdn plc now owns 808,715 shares of the company’s stock valued at $185,617,000 after purchasing an additional 178,478 shares during the period. 81.65% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on LLY shares. Cowen lifted their price objective on Eli Lilly and from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Zacks Investment Research downgraded Eli Lilly and from a “hold” rating to a “sell” rating and set a $244.00 price objective for the company. in a report on Monday, July 19th. Cantor Fitzgerald lifted their price objective on Eli Lilly and from $245.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Mizuho lifted their price objective on Eli Lilly and from $250.00 to $279.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. Finally, The Goldman Sachs Group lifted their price objective on Eli Lilly and from $252.00 to $270.00 and gave the company a “conviction-buy” rating in a report on Monday, June 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $250.41.

Shares of NYSE LLY traded down $1.42 during mid-day trading on Friday, reaching $229.62. 29,563 shares of the company’s stock were exchanged, compared to its average volume of 3,532,724. The firm has a market capitalization of $220.21 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.86 and a beta of 0.25. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.89 and a current ratio of 1.15. Eli Lilly and Company has a 52-week low of $129.21 and a 52-week high of $275.87. The company’s 50-day moving average is $251.77 and its 200-day moving average is $218.76.

Eli Lilly and (NYSE:LLY) last announced its earnings results on Monday, August 2nd. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 7.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, August 12th. Eli Lilly and’s dividend payout ratio (DPR) is 42.88%.

In other news, major shareholder Lilly Endowment Inc sold 3,060 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $274.08, for a total value of $838,684.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,044,132 shares of company stock worth $257,735,592. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Profile

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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