abrdn plc boosted its stake in Eli Lilly and Company (NYSE:LLY) by 28.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 808,715 shares of the company’s stock after acquiring an additional 178,478 shares during the period. abrdn plc owned 0.08% of Eli Lilly and worth $185,617,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Atlas Capital Advisors LLC raised its position in shares of Eli Lilly and by 64.6% in the second quarter. Atlas Capital Advisors LLC now owns 107 shares of the company’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Cranbrook Wealth Management LLC raised its position in shares of Eli Lilly and by 162.3% in the first quarter. Cranbrook Wealth Management LLC now owns 181 shares of the company’s stock valued at $34,000 after purchasing an additional 112 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of Eli Lilly and in the first quarter valued at approximately $42,000. HBC Financial Services PLLC bought a new stake in shares of Eli Lilly and in the first quarter valued at approximately $46,000. Finally, Corsicana & Co. bought a new stake in shares of Eli Lilly and in the second quarter valued at approximately $46,000. 81.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Lilly Endowment Inc sold 202,102 shares of the company’s stock in a transaction on Friday, July 2nd. The shares were sold at an average price of $232.94, for a total transaction of $47,077,639.88. Following the completion of the sale, the insider now directly owns 109,251,475 shares in the company, valued at approximately $25,449,038,586.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,044,132 shares of company stock valued at $257,735,592 over the last quarter. 0.13% of the stock is currently owned by company insiders.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Monday, August 2nd. The company reported $1.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.02). Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same period last year, the company posted $1.89 EPS. Eli Lilly and’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts predict that Eli Lilly and Company will post 7.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were paid a $0.85 dividend. The ex-dividend date was Thursday, August 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.44%. Eli Lilly and’s dividend payout ratio (DPR) is 42.88%.
Several research firms have recently issued reports on LLY. Morgan Stanley boosted their price target on shares of Eli Lilly and from $207.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, August 4th. Barclays upped their target price on shares of Eli Lilly and from $227.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 6th. Cantor Fitzgerald upped their target price on shares of Eli Lilly and from $245.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. DZ Bank raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $288.00 target price on the stock in a report on Thursday, August 5th. Finally, Argus upped their target price on shares of Eli Lilly and from $225.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $250.41.
Eli Lilly and Company Profile
Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.
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