Wealth Enhancement Advisory Services LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,611 shares of the company’s stock after purchasing an additional 1,263 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Eli Lilly and were worth $9,434,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LLY. Norges Bank purchased a new position in Eli Lilly and during the 4th quarter worth $1,463,293,000. Price T Rowe Associates Inc. MD grew its stake in shares of Eli Lilly and by 51.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,094,613 shares of the company’s stock worth $2,042,017,000 after acquiring an additional 4,082,728 shares during the last quarter. Jennison Associates LLC increased 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 valued at $1,016,326,000 after acquiring an additional 3,561,294 shares in the last quarter. Avidity Partners Management LP purchased a new position in shares of Eli Lilly and in the 4th quarter valued at approximately $136,845,000. Finally, Brandywine Global Investment Management LLC acquired a new stake in Eli Lilly and in the 4th quarter worth approximately $132,324,000. 81.63% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Donald A. Zakrowski sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $181.38, for a total transaction of $544,140.00. Following the completion of the sale, the chief accounting officer now owns 5,987 shares of the company’s stock, valued at $1,085,922.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jackson P. Tai purchased 1,366 shares of Eli Lilly and stock in a transaction that occurred on Friday, April 30th. The shares were bought at an average price of $182.84 per share, with a total value of $249,759.44. Following the transaction, the director now owns 60,649 shares in the company, valued at $11,089,063.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 110,260 shares of company stock valued at $22,060,744. Corporate insiders own 0.13% of the company’s stock.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Monday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.25). Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The company’s revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 7.9 EPS for the current year.
Eli Lilly and announced that its Board of Directors has approved a stock buyback program on Monday, May 3rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Friday, May 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, May 13th. Eli Lilly and’s dividend payout ratio (DPR) is presently 42.88%.
LLY has been the subject of a number of research analyst reports. Cowen raised their price target on shares of Eli Lilly and from $195.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Mizuho lowered their price target on Eli Lilly and from $228.00 to $216.00 and set a “buy” rating for the company in a research report on Wednesday, April 28th. Morgan Stanley cut their price objective on Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, April 28th. Truist Financial reaffirmed a “buy” rating and set a $225.00 target price on shares of Eli Lilly and in a report on Tuesday. Finally, Barclays cut their price target on shares of Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating on the stock in a report on Wednesday, April 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $202.62.
About Eli Lilly and
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceuticals worldwide. It offers Baqsimi for severe hypoglycemia; Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
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