Traders Buy Eli Lilly And Co (LLY) on Weakness Following Insider Selling
Investors purchased shares of Eli Lilly And Co (NYSE:LLY) on weakness during trading hours on Friday after an insider sold shares in the company. $96.53 million flowed into the stock on the tick-up and $43.13 million flowed out of the stock on the tick-down, for a money net flow of $53.40 million into the stock. Of all companies tracked, Eli Lilly And Co had the 16th highest net in-flow for the day. Eli Lilly And Co traded down ($0.81) for the day and closed at $105.77Specifically, major shareholder Lilly Endowment Inc sold 185,000 shares of the stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $92.03, for a total value of $17,025,550.00. Following the transaction, the insider now owns 121,631,601 shares in the company, valued at $11,193,756,240.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald A. Zakrowski sold 600 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $105.57, for a total value of $63,342.00. Following the completion of the transaction, the insider now owns 3,530 shares in the company, valued at approximately $372,662.10. The disclosure for this sale can be found here. Insiders sold 1,685,070 shares of company stock worth $167,108,944 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on LLY shares. Barclays set a $98.00 price objective on Eli Lilly And Co and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research downgraded Eli Lilly And Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. ValuEngine upgraded Eli Lilly And Co from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. Cantor Fitzgerald assumed coverage on Eli Lilly And Co in a report on Thursday, June 7th. They set an “overweight” rating and a $100.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $100.00 price target on Eli Lilly And Co and gave the company a “buy” rating in a report on Monday, June 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $100.69.
The company has a debt-to-equity ratio of 0.79, a current ratio of 1.40 and a quick ratio of 1.09. The firm has a market cap of $113.81 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.76 and a beta of 0.28.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $2.25 annualized dividend and a dividend yield of 2.13%. Eli Lilly And Co’s payout ratio is 52.57%.
Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Eli Lilly And Co in the second quarter worth $103,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Eli Lilly And Co in the second quarter worth $114,000. Legacy Advisors LLC grew its stake in shares of Eli Lilly And Co by 118.0% in the second quarter. Legacy Advisors LLC now owns 1,354 shares of the company’s stock worth $116,000 after acquiring an additional 733 shares during the last quarter. Fort L.P. acquired a new stake in shares of Eli Lilly And Co in the second quarter worth $121,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Eli Lilly And Co in the second quarter worth $128,000. Institutional investors and hedge funds own 76.55% of the company’s stock.
About Eli Lilly And Co (NYSE:LLY)
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
Further Reading: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Eli Lilly And Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eli Lilly And Co and related companies with MarketBeat.com's FREE daily email newsletter.