Eli Lilly and Company (NYSE:LLY) Stake Lessened by Trek Financial LLC

Trek Financial LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 72.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,872 shares of the company’s stock after selling 23,559 shares during the period. Trek Financial LLC’s holdings in Eli Lilly and Company were worth $3,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Silicon Valley Capital Partners acquired a new position in shares of Eli Lilly and Company in the first quarter worth $25,000. Bogart Wealth LLC increased its stake in shares of Eli Lilly and Company by 193.3% in the first quarter. Bogart Wealth LLC now owns 88 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Laffer Tengler Investments acquired a new position in shares of Eli Lilly and Company in the first quarter worth $33,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $37,000. Finally, Freedom Wealth Alliance LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Eli Lilly and Company Stock Up 2.3 %

Shares of LLY opened at $586.46 on Friday. The stock has a market cap of $556.72 billion, a price-to-earnings ratio of 81.57, a P/E/G ratio of 2.31 and a beta of 0.32. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. Eli Lilly and Company has a 12 month low of $296.32 and a 12 month high of $587.55. The company has a 50-day moving average price of $499.40 and a two-hundred day moving average price of $428.23.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.13. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Equities analysts predict that Eli Lilly and Company will post 9.83 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Monday, August 14th. Eli Lilly and Company’s dividend payout ratio is 62.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LLY. Barclays upped their price target on shares of Eli Lilly and Company from $500.00 to $590.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. HSBC began coverage on shares of Eli Lilly and Company in a research report on Friday, July 14th. They set a “buy” rating and a $560.00 target price on the stock. Citigroup increased their target price on shares of Eli Lilly and Company from $360.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Argus increased their target price on shares of Eli Lilly and Company from $470.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada increased their target price on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $532.78.

Insiders Place Their Bets

In other news, EVP Johna Norton sold 1,647 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $444.29, for a total value of $731,745.63. Following the completion of the transaction, the executive vice president now owns 31,761 shares in the company, valued at $14,111,094.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Johna Norton sold 1,647 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $444.29, for a total value of $731,745.63. Following the completion of the transaction, the executive vice president now owns 31,761 shares in the company, valued at $14,111,094.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 37,660 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $546,751.75, for a total transaction of $20,590,670,905.00. Following the completion of the transaction, the insider now owns 100,275,279 shares of the company’s stock, valued at approximately $54,825,684,274,988.30. The disclosure for this sale can be found here. Insiders sold a total of 1,038,161 shares of company stock worth $21,108,177,335 over the last quarter. Company insiders own 0.13% of the company’s stock.

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.