Gradient Investments LLC Sells 22,018 Shares of Eli Lilly and Company (NYSE:LLY)

Gradient Investments LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLYGet Rating) by 95.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,161 shares of the company’s stock after selling 22,018 shares during the quarter. Gradient Investments LLC’s holdings in Eli Lilly and were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cordant Inc. bought a new position in shares of Eli Lilly and in the first quarter valued at about $25,000. HWG Holdings LP bought a new position in shares of Eli Lilly and in the fourth quarter valued at about $28,000. Icapital Wealth LLC bought a new position in shares of Eli Lilly and in the first quarter valued at about $28,000. Selective Wealth Management Inc. bought a new position in shares of Eli Lilly and in the first quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Eli Lilly and in the first quarter valued at about $33,000. 82.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LLY shares. Morgan Stanley increased their price objective on shares of Eli Lilly and from $395.00 to $412.00 and gave the company an “overweight” rating in a research report on Wednesday, September 7th. UBS Group increased their price objective on shares of Eli Lilly and to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Barclays upped their price target on shares of Eli Lilly and from $333.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 7th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and from $340.00 to $355.00 in a research note on Wednesday, June 1st. Finally, StockNews.com upgraded shares of Eli Lilly and from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $330.44.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $324.31, for a total value of $69,726,650.00. Following the sale, the insider now directly owns 104,203,810 shares in the company, valued at approximately $33,794,337,621.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $324.31, for a total value of $69,726,650.00. Following the sale, the insider now directly owns 104,203,810 shares in the company, valued at approximately $33,794,337,621.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jackson P. Tai acquired 656 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was acquired at an average price of $304.19 per share, with a total value of $199,548.64. Following the acquisition, the director now owns 62,857 shares in the company, valued at $19,120,470.83. The disclosure for this purchase can be found here. In the last three months, insiders have sold 753,125 shares of company stock worth $242,744,201. Corporate insiders own 0.12% of the company’s stock.

Eli Lilly and Trading Down 1.2 %

Shares of Eli Lilly and stock opened at $305.09 on Tuesday. The company has a market capitalization of $289.89 billion, a price-to-earnings ratio of 48.66, a PEG ratio of 2.00 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 1.10 and a debt-to-equity ratio of 1.70. Eli Lilly and Company has a 12-month low of $220.20 and a 12-month high of $335.33. The firm’s 50-day moving average price is $316.13 and its two-hundred day moving average price is $303.88.

Eli Lilly and (NYSE:LLYGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.61). Eli Lilly and had a net margin of 19.58% and a return on equity of 85.58%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 7.97 earnings per share for the current fiscal year.

Eli Lilly and Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a $0.98 dividend. The ex-dividend date was Friday, August 12th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.28%. Eli Lilly and’s payout ratio is currently 62.52%.

Eli Lilly and Company Profile

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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.

See Also

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLYGet Rating).

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

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