Zacks Investment Management raised its stake in shares of Eli Lilly and Co. (NYSE:LLY) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,823 shares of the company’s stock after buying an additional 4,585 shares during the period. Zacks Investment Management’s holdings in Eli Lilly and were worth $14,712,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Eli Lilly and by 0.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,625,795 shares of the company’s stock valued at $128,031,000 after buying an additional 10,250 shares in the last quarter. RNC Capital Management LLC raised its position in shares of Eli Lilly and by 42.4% in the second quarter. RNC Capital Management LLC now owns 410,784 shares of the company’s stock valued at $32,349,000 after buying an additional 122,237 shares in the last quarter. Private Capital Advisors Inc. acquired a new position in shares of Eli Lilly and during the second quarter valued at $28,535,000. Country Trust Bank raised its position in shares of Eli Lilly and by 0.4% in the second quarter. Country Trust Bank now owns 252,356 shares of the company’s stock valued at $19,873,000 after buying an additional 909 shares in the last quarter. Finally, FineMark National Bank & Trust raised its position in shares of Eli Lilly and by 0.5% in the second quarter. FineMark National Bank & Trust now owns 27,787 shares of the company’s stock valued at $2,189,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.

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

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by $0.08. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $4.23 billion. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, November 10th. This represents a $2.04 annualized dividend and a yield of 2.63%. Eli Lilly and’s dividend payout ratio is presently 88.70%.

Several equities research analysts have commented on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Argus upped their target price on shares of Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Friday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 target price on shares of Eli Lilly and in a research note on Wednesday, July 27th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $103.00 target price on shares of Eli Lilly and in a research note on Sunday, October 9th. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $96.74.

In related news, insider Maria A. Crowe sold 2,248 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $81.37, for a total transaction of $182,919.76. Following the sale, the insider now directly owns 94,319 shares in the company, valued at approximately $7,674,737.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jackson P. Tai bought 5,773 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average price of $80.43 per share, for a total transaction of $464,322.39. Following the completion of the transaction, the director now owns 42,306 shares in the company, valued at $3,402,671.58. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

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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