Checchi Capital Advisers LLC Decreases Stake in Eli Lilly and Company (LLY)
Checchi Capital Advisers LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,303 shares of the company’s stock after selling 818 shares during the period. Checchi Capital Advisers LLC’s holdings in Eli Lilly and Company were worth $951,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Eli Lilly and Company by 4.9% in the fourth quarter. State Street Corp now owns 41,712,511 shares of the company’s stock valued at $3,067,953,000 after buying an additional 1,945,594 shares during the last quarter. Franklin Resources Inc. increased its position in Eli Lilly and Company by 13.4% in the fourth quarter. Franklin Resources Inc. now owns 34,736,583 shares of the company’s stock valued at $2,554,872,000 after buying an additional 4,091,244 shares during the last quarter. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at about $658,856,000. UBS Asset Management Americas Inc. increased its position in Eli Lilly and Company by 22.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,406,387 shares of the company’s stock valued at $471,190,000 after buying an additional 1,195,661 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Eli Lilly and Company by 18.2% in the first quarter. American Century Companies Inc. now owns 2,754,819 shares of the company’s stock valued at $231,708,000 after buying an additional 424,763 shares during the last quarter. 75.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eli Lilly and Company (NYSE LLY) opened at 81.88 on Friday. The stock has a market capitalization of $86.49 billion, a price-to-earnings ratio of 39.59 and a beta of 0.36. The stock’s 50 day moving average is $80.08 and its 200 day moving average is $78.91. Eli Lilly and Company has a 1-year low of $64.18 and a 1-year high of $86.72.
Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Eli Lilly and Company had a net margin of 10.13% and a return on equity of 26.64%. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Eli Lilly and Company will post $4.12 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.54%. Eli Lilly and Company’s dividend payout ratio (DPR) is 100.48%.
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Several equities analysts recently issued reports on LLY shares. Piper Jaffray Companies reissued a “buy” rating and issued a $100.00 target price on shares of Eli Lilly and Company in a research report on Monday, April 17th. Credit Suisse Group reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Tuesday, March 21st. Argus lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and upped their price target for the company from $64.18 to $81.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $88.00 price target on shares of Eli Lilly and Company in a report on Sunday, May 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Eli Lilly and Company in a report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Eli Lilly and Company presently has an average rating of “Hold” and an average target price of $87.59.
In related news, VP Michael J. Harrington sold 22,833 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total transaction of $1,825,955.01. Following the sale, the vice president now owns 62,056 shares of the company’s stock, valued at $4,962,618.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $84.67, for a total transaction of $17,780,700.00. Following the sale, the insider now directly owns 124,690,804 shares in the company, valued at approximately $10,557,570,374.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,733 shares of company stock worth $21,829,137. Company insiders own 0.20% of the company’s stock.
Eli Lilly and Company 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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