Gamco Investors INC. ET AL Reduces Stake in Eli Lilly and Company (LLY)
Gamco Investors INC. ET AL decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,800 shares of the company’s stock after selling 2,300 shares during the period. Gamco Investors INC. ET AL’s holdings in Eli Lilly and were worth $6,321,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. BARING ASSET MANAGEMENT Ltd bought a new stake in shares of Eli Lilly and in the 2nd quarter valued at approximately $1,668,000. Legal & General Group Plc grew its stake in shares of Eli Lilly and by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 5,101,196 shares of the company’s stock valued at $419,840,000 after buying an additional 136,660 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Eli Lilly and by 3.4% in the 2nd quarter. Alps Advisors Inc. now owns 578,098 shares of the company’s stock valued at $47,577,000 after buying an additional 19,110 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of Eli Lilly and by 5.5% in the 2nd quarter. NewSquare Capital LLC now owns 13,376 shares of the company’s stock valued at $1,101,000 after buying an additional 702 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in shares of Eli Lilly and by 16.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,046,784 shares of the company’s stock valued at $86,150,000 after buying an additional 148,360 shares in the last quarter. Institutional investors own 75.72% of the company’s stock.
Shares of Eli Lilly and Company (NYSE:LLY) opened at 86.43 on Friday. Eli Lilly and Company has a 52-week low of $64.18 and a 52-week high of $89.09. The stock has a 50 day moving average price of $83.21 and a 200 day moving average price of $82.21. The company has a market capitalization of $91.18 billion, a PE ratio of 37.40 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.
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Several brokerages recently commented on LLY. Cowen and Company reissued a “buy” rating and issued a $95.00 price target on shares of Eli Lilly and in a research note on Wednesday, October 4th. BMO Capital Markets reissued a “sell” rating and issued a $73.00 price target on shares of Eli Lilly and in a research note on Friday, August 4th. Morgan Stanley set a $86.00 price target on Eli Lilly and and gave the company a “hold” rating in a research note on Friday, October 6th. TheStreet raised Eli Lilly and from a “c+” rating to a “b+” rating in a research note on Tuesday, July 25th. Finally, Leerink Swann cut Eli Lilly and from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $90.00 in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Eli Lilly and has a consensus rating of “Hold” and a consensus price target of $88.57.
In other news, major shareholder Lilly Endowment Inc sold 180,000 shares of Eli Lilly and stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $81.06, for a total transaction of $14,590,800.00. Following the completion of the transaction, the insider now directly owns 123,865,804 shares in the company, valued at approximately $10,040,562,072.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 990,000 shares of company stock valued at $82,949,650 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.
Eli Lilly and Company Profile
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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