Perkins Capital Management Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,450 shares of the company’s stock after selling 1,750 shares during the period. Eli Lilly and makes up 1.7% of Perkins Capital Management Inc.’s holdings, making the stock its 13th largest position. Perkins Capital Management Inc.’s holdings in Eli Lilly and were worth $1,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Heritage Trust Co purchased a new position in shares of Eli Lilly and during the first quarter worth approximately $135,000. Point72 Asia Hong Kong Ltd boosted its position in shares of Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after buying an additional 1,239 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Eli Lilly and by 18.4% in the second quarter. Cornerstone Advisors Inc. now owns 2,013 shares of the company’s stock worth $166,000 after buying an additional 313 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Eli Lilly and by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,024 shares of the company’s stock worth $170,000 after buying an additional 176 shares in the last quarter. Finally, American National Bank boosted its position in shares of Eli Lilly and by 5.2% in the second quarter. American National Bank now owns 2,088 shares of the company’s stock worth $172,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Eli Lilly and Company (LLY) opened at 80.08 on Friday. The company has a market capitalization of $84.48 billion, a price-to-earnings ratio of 34.65 and a beta of 0.34. Eli Lilly and Company has a 52 week low of $64.18 and a 52 week high of $86.72. The firm has a 50-day moving average price of $81.40 and a 200-day moving average price of $82.00.

Eli Lilly and (NYSE:LLY) last posted its earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Analysts anticipate that Eli Lilly and Company will post $4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be given a $0.52 dividend. The ex-dividend date is Friday, August 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.60%. Eli Lilly and’s dividend payout ratio is currently 90.04%.

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LLY has been the topic of a number of recent research reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $92.00 price target on shares of Eli Lilly and in a research report on Tuesday, May 16th. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Eli Lilly and in a research report on Tuesday, May 30th. Oppenheimer Holdings, Inc. cut Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 price target on the stock. in a research report on Wednesday, July 26th. Finally, TheStreet cut Eli Lilly and from a “b+” rating to a “c” rating in a research report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Eli Lilly and presently has an average rating of “Hold” and a consensus price target of $88.07.

In related news, major shareholder Lilly Endowment Inc sold 180,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $81.06, for a total value of $14,590,800.00. Following the sale, the insider now directly owns 123,865,804 shares in the company, valued at $10,040,562,072.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Melissa S. Barnes sold 1,900 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.78, for a total value of $153,482.00. Following the completion of the sale, the insider now owns 14,041 shares in the company, valued at $1,134,231.98. The disclosure for this sale can be found here. Insiders sold 849,733 shares of company stock worth $70,436,087 over the last quarter. 0.20% of the stock is owned by company insiders.

About Eli Lilly and

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

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