Investors Buy Eli Lilly And Co (LLY) on Weakness Following Insider Selling
Traders purchased shares of Eli Lilly And Co (NYSE:LLY) on weakness during trading hours on Wednesday following insider selling activity. $219.63 million flowed into the stock on the tick-up and $85.96 million flowed out of the stock on the tick-down, for a money net flow of $133.67 million into the stock. Of all equities tracked, Eli Lilly And Co had the 4th highest net in-flow for the day. Eli Lilly And Co traded down ($2.01) for the day and closed at $109.81Specifically, major shareholder Lilly Endowment Inc sold 195,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $105.89, for a total value of $20,648,550.00. Following the completion of the transaction, the insider now owns 120,160,804 shares of the company’s stock, valued at $12,723,827,535.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Alfonso G. Zulueta sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $106.31, for a total transaction of $637,860.00. Following the completion of the transaction, the senior vice president now directly owns 55,224 shares of the company’s stock, valued at approximately $5,870,863.44. The disclosure for this sale can be found here. In the last three months, insiders sold 1,927,900 shares of company stock valued at $140,523,795. Insiders own 0.11% of the company’s stock.
Several research firms have recently commented on LLY. Bank of America raised their price objective on shares of Eli Lilly And Co from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. TheStreet lowered shares of Eli Lilly And Co from a “b” rating to a “c+” rating in a research note on Friday, August 24th. Cantor Fitzgerald set a $110.00 price objective on shares of Eli Lilly And Co and gave the company a “buy” rating in a research note on Monday, September 17th. ValuEngine raised shares of Eli Lilly And Co from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley raised their target price on shares of Eli Lilly And Co from $93.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.19.
The firm has a market cap of $119.92 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.81 and a beta of 0.29. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.53 and a current ratio of 1.91.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be issued a $0.5625 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $2.25 annualized dividend and a yield of 2.01%. Eli Lilly And Co’s dividend payout ratio (DPR) is 52.57%.
A number of hedge funds have recently added to or reduced their stakes in LLY. Principal Financial Group Inc. raised its holdings in Eli Lilly And Co by 8.3% during the first quarter. Principal Financial Group Inc. now owns 1,807,947 shares of the company’s stock worth $139,881,000 after purchasing an additional 138,746 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Eli Lilly And Co by 3.9% during the second quarter. Xact Kapitalforvaltning AB now owns 205,241 shares of the company’s stock worth $17,513,000 after purchasing an additional 7,697 shares in the last quarter. Bedel Financial Consulting Inc. raised its holdings in Eli Lilly And Co by 0.6% during the second quarter. Bedel Financial Consulting Inc. now owns 366,062 shares of the company’s stock worth $31,236,000 after purchasing an additional 2,178 shares in the last quarter. Mycio Wealth Partners LLC raised its holdings in Eli Lilly And Co by 121.1% during the second quarter. Mycio Wealth Partners LLC now owns 7,816 shares of the company’s stock worth $667,000 after purchasing an additional 4,281 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Eli Lilly And Co by 2.5% during the second quarter. Nisa Investment Advisors LLC now owns 387,479 shares of the company’s stock worth $33,061,000 after purchasing an additional 9,629 shares in the last quarter. 76.19% of the stock is currently owned by institutional investors.
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About Eli Lilly And Co (NYSE:LLY)
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
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