Sheets Smith Wealth Management reduced its stake in Eli Lilly and Company (NYSE:LLY) by 57.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,507 shares of the company’s stock after selling 3,326 shares during the quarter. Sheets Smith Wealth Management’s holdings in Eli Lilly and were worth $423,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Price Wealth LLC lifted its position in shares of Eli Lilly and by 75.0% in the third quarter. Price Wealth LLC now owns 182 shares of the company’s stock valued at $27,000 after acquiring an additional 78 shares in the last quarter. Holloway Wealth Management LLC purchased a new stake in shares of Eli Lilly and in the third quarter valued at $30,000. Bainco International Investors purchased a new stake in shares of Eli Lilly and in the fourth quarter valued at $57,000. Adams Wealth Management purchased a new stake in shares of Eli Lilly and in the third quarter valued at $54,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Eli Lilly and during the third quarter worth about $55,000. Institutional investors and hedge funds own 69.85% of the company’s stock.
In other news, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $185.49, for a total value of $40,807,800.00. Following the completion of the sale, the insider now owns 111,003,815 shares in the company, valued at $20,590,097,644.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Sunday, November 1st. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.17). Eli Lilly and had a net margin of 24.01% and a return on equity of 166.45%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.87 billion. During the same quarter last year, the business posted $1.48 EPS. Eli Lilly and’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 7.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Stockholders of record on Friday, February 12th will be paid a $0.85 dividend. The ex-dividend date is Thursday, February 11th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.74. Eli Lilly and’s dividend payout ratio (DPR) is 49.01%.
Several equities analysts recently weighed in on LLY shares. Wolfe Research upgraded Eli Lilly and from a “peer perform” rating to an “outperform” rating and increased their target price for the stock from $147.00 to $183.00 in a research report on Thursday, December 10th. Mizuho increased their target price on Eli Lilly and from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 16th. Morgan Stanley reduced their target price on Eli Lilly and from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. ValuEngine downgraded Eli Lilly and from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Berenberg Bank started coverage on Eli Lilly and in a research report on Tuesday, September 29th. They set a “hold” rating and a $144.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $171.13.
About Eli Lilly and
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. It offers endocrinology products for diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and paediatric growth conditions. The company also provides neuroscience products for treating depressive disorder, diabetic peripheral neuropathic pain, anxiety disorder, fibromyalgia, and chronic musculoskeletal pain; migraine and episodic cluster headache; attention-deficit hyperactivity disorder; and schizophrenia.
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