LifePro Asset Management Lowers Position in Eli Lilly and Company (NYSE:LLY)

LifePro Asset Management cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 35.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,317 shares of the company’s stock after selling 724 shares during the quarter. LifePro Asset Management’s holdings in Eli Lilly and Company were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Worth Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 198.3% during the 2nd quarter. Worth Asset Management LLC now owns 355 shares of the company’s stock worth $166,000 after purchasing an additional 236 shares during the period. Legacy Bridge LLC grew its holdings in shares of Eli Lilly and Company by 31.7% during the 2nd quarter. Legacy Bridge LLC now owns 5,313 shares of the company’s stock worth $2,492,000 after purchasing an additional 1,280 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.1% during the 2nd quarter. Kathmere Capital Management LLC now owns 4,123 shares of the company’s stock worth $1,934,000 after purchasing an additional 45 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of Eli Lilly and Company by 17.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,276 shares of the company’s stock worth $2,474,000 after purchasing an additional 773 shares during the period. Finally, Gradient Investments LLC grew its holdings in shares of Eli Lilly and Company by 20.1% during the 2nd quarter. Gradient Investments LLC now owns 682 shares of the company’s stock worth $320,000 after purchasing an additional 114 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total transaction of $678,445.04. Following the transaction, the executive vice president now owns 7,760 shares in the company, valued at approximately $4,586,004.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total transaction of $678,445.04. Following the transaction, the executive vice president now owns 7,760 shares in the company, valued at approximately $4,586,004.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $571.41, for a total value of $119,996,100.00. Following the transaction, the insider now owns 99,983,810 shares in the company, valued at approximately $57,131,748,872.10. The disclosure for this sale can be found here. Insiders have sold 1,010,309 shares of company stock worth $21,095,701,670 in the last quarter. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

LLY has been the topic of several research reports. UBS Group increased their target price on Eli Lilly and Company from $447.00 to $498.00 and gave the stock a “buy” rating in a research note on Wednesday, May 24th. 22nd Century Group reissued a “maintains” rating on shares of Eli Lilly and Company in a research note on Tuesday, June 27th. Royal Bank of Canada increased their target price on Eli Lilly and Company from $490.00 to $580.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Morgan Stanley increased their target price on Eli Lilly and Company from $617.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 5th. Finally, Bank of America increased their target price on Eli Lilly and Company from $500.00 to $600.00 in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $532.78.

Eli Lilly and Company Stock Down 0.6 %

Shares of NYSE LLY traded down $3.61 during midday trading on Monday, hitting $572.05. 542,773 shares of the company’s stock were exchanged, compared to its average volume of 3,024,549. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.13 and a quick ratio of 0.87. Eli Lilly and Company has a twelve month low of $296.32 and a twelve month high of $601.84. The company has a market cap of $543.04 billion, a PE ratio of 79.37, a P/E/G ratio of 2.47 and a beta of 0.32. The firm’s fifty day simple moving average is $512.56 and its 200-day simple moving average is $439.28.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.13. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company earned $1.25 EPS. The business’s quarterly revenue was up 28.1% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were paid a dividend of $1.13 per share. The ex-dividend date was Monday, August 14th. This represents a $4.52 dividend on an annualized basis and a yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is presently 62.87%.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers 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, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.