Westpac Banking Corp Lowers Stake in Eli Lilly and Co. (LLY)
Westpac Banking Corp reduced its stake in Eli Lilly and Co. (NYSE:LLY) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,643 shares of the company’s stock after selling 5,905 shares during the period. Westpac Banking Corp’s holdings in Eli Lilly and were worth $7,185,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Private Capital Advisors Inc. purchased a new stake in shares of Eli Lilly and during the second quarter valued at $28,535,000. RNC Capital Management LLC boosted its stake in shares of Eli Lilly and by 42.4% in the second quarter. RNC Capital Management LLC now owns 410,784 shares of the company’s stock valued at $32,349,000 after buying an additional 122,237 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Eli Lilly and by 6.9% in the first quarter. AMP Capital Investors Ltd now owns 512,346 shares of the company’s stock valued at $36,776,000 after buying an additional 32,848 shares in the last quarter. Country Trust Bank boosted its stake in shares of Eli Lilly and by 0.4% in the second quarter. Country Trust Bank now owns 252,356 shares of the company’s stock valued at $19,873,000 after buying an additional 909 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its stake in shares of Eli Lilly and by 0.5% in the second quarter. FineMark National Bank & Trust now owns 27,787 shares of the company’s stock valued at $2,189,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
Shares of Eli Lilly and Co. (NYSE:LLY) traded up 1.05% during trading on Tuesday, reaching $79.99. The company’s stock had a trading volume of 766,689 shares. The firm has a market capitalization of $84.61 billion, a P/E ratio of 34.48 and a beta of 0.20. Eli Lilly and Co. has a 52 week low of $67.88 and a 52 week high of $88.48. The company has a 50 day moving average price of $79.61 and a 200 day moving average price of $76.71.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Co. will post $3.59 EPS for the current fiscal year.
LLY has been the subject of several research reports. Jefferies Group reiterated a “buy” rating and issued a $105.00 target price on shares of Eli Lilly and in a report on Wednesday, September 14th. Credit Suisse Group AG restated a “buy” rating and set a $91.00 price objective on shares of Eli Lilly and in a research note on Wednesday, July 6th. SunTrust Banks Inc. restated a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, June 15th. TheStreet upgraded Eli Lilly and from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Finally, JPMorgan Chase & Co. upgraded Eli Lilly and from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $92.00 to $95.00 in a research note on Thursday, September 8th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Eli Lilly and currently has a consensus rating of “Buy” and an average price target of $96.85.
In other news, Director Jackson P. Tai purchased 5,773 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average price of $80.43 per share, for a total transaction of $464,322.39. Following the purchase, the director now directly owns 42,306 shares of the company’s stock, valued at approximately $3,402,671.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $78.46, for a total value of $16,868,900.00. Following the transaction, the insider now owns 126,808,704 shares in the company, valued at approximately $9,949,410,915.84. The disclosure for this sale can be found here. 0.20% of the stock is owned by 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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