Eli Lilly and Company (LLY) Shares Bought by Rockland Trust Co.
Rockland Trust Co. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,934 shares of the company’s stock after purchasing an additional 8,070 shares during the quarter. Rockland Trust Co.’s holdings in Eli Lilly and were worth $3,287,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in LLY. Ronna Sue Cohen increased its position in Eli Lilly and by 0.4% in the 2nd quarter. Ronna Sue Cohen now owns 2,466 shares of the company’s stock valued at $203,000 after buying an additional 9 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Eli Lilly and by 0.5% during the 1st quarter. Sunbelt Securities Inc. now owns 3,721 shares of the company’s stock worth $313,000 after buying an additional 17 shares during the period. Northwest Quadrant Wealth Management LLC raised its stake in Eli Lilly and by 0.5% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 3,589 shares of the company’s stock worth $290,000 after buying an additional 19 shares during the period. Pillar Pacific Capital Management LLC raised its stake in Eli Lilly and by 0.3% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 7,077 shares of the company’s stock worth $595,000 after buying an additional 20 shares during the period. Finally, Oakworth Capital Inc. raised its stake in Eli Lilly and by 0.3% during the 2nd quarter. Oakworth Capital Inc. now owns 6,714 shares of the company’s stock worth $552,000 after buying an additional 20 shares during the period. 75.72% of the stock is currently owned by institutional investors.
Eli Lilly and Company (LLY) opened at 86.35 on Tuesday. The company has a market cap of $91.10 billion, a price-to-earnings ratio of 37.36 and a beta of 0.34. The company’s 50-day moving average is $81.45 and its 200 day moving average is $82.03. Eli Lilly and Company has a 52-week low of $64.18 and a 52-week high of $86.72.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.
In related news, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $83.09, for a total transaction of $18,279,800.00. Following the sale, the insider now directly owns 124,049,283 shares of the company’s stock, valued at $10,307,254,924.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 785,000 shares of company stock worth $65,153,600. Corporate insiders own 0.20% of the company’s stock.
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Several equities research analysts have recently commented on LLY shares. Berenberg Bank restated a “buy” rating and set a $98.00 price objective on shares of Eli Lilly and in a report on Friday, August 4th. Oppenheimer Holdings, Inc. lowered Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 target price on the stock. in a research report on Wednesday, July 26th. BMO Capital Markets reiterated an “underperform” rating and issued a $73.00 target price on shares of Eli Lilly and in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $89.00 target price on shares of Eli Lilly and in a report on Thursday, August 31st. Finally, Leerink Swann downgraded shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $93.00 to $90.00 in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $88.27.
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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