BlackRock Inc. Increases Position in Eli Lilly and Company (NYSE:LLY)

BlackRock Inc. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 65,571,525 shares of the company’s stock after buying an additional 111,344 shares during the period. Eli Lilly and Company accounts for approximately 0.7% of BlackRock Inc.’s portfolio, making the stock its 19th largest holding. BlackRock Inc. owned approximately 6.91% of Eli Lilly and Company worth $22,518,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Oxler Private Wealth LLC increased its position in Eli Lilly and Company by 0.4% during the first quarter. Oxler Private Wealth LLC now owns 6,050 shares of the company’s stock worth $2,078,000 after purchasing an additional 24 shares during the last quarter. Cora Capital Advisors LLC increased its position in shares of Eli Lilly and Company by 2.8% in the first quarter. Cora Capital Advisors LLC now owns 956 shares of the company’s stock worth $328,000 after acquiring an additional 26 shares in the last quarter. Sittner & Nelson LLC increased its position in shares of Eli Lilly and Company by 2.7% in the first quarter. Sittner & Nelson LLC now owns 1,003 shares of the company’s stock worth $344,000 after acquiring an additional 26 shares in the last quarter. Forte Capital LLC ADV increased its position in shares of Eli Lilly and Company by 3.9% in the first quarter. Forte Capital LLC ADV now owns 715 shares of the company’s stock worth $246,000 after acquiring an additional 27 shares in the last quarter. Finally, Aries Wealth Management increased its position in shares of Eli Lilly and Company by 0.8% in the first quarter. Aries Wealth Management now owns 3,701 shares of the company’s stock worth $1,271,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $2.34 during trading hours on Wednesday, hitting $555.85. 929,416 shares of the company traded hands, compared to its average volume of 2,994,005. The firm has a market cap of $527.66 billion, a P/E ratio of 76.94, a P/E/G ratio of 2.30 and a beta of 0.32. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. The firm’s 50-day simple moving average is $492.85 and its two-hundred day simple moving average is $424.46. Eli Lilly and Company has a 1-year low of $296.32 and a 1-year high of $561.93.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.13. The company had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, analysts forecast that Eli Lilly and Company will post 9.83 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is currently 62.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LLY. Royal Bank of Canada increased their price objective on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. UBS Group raised their price target on shares of Eli Lilly and Company from $447.00 to $498.00 and gave the company a “buy” rating in a report on Wednesday, May 24th. HSBC began coverage on shares of Eli Lilly and Company in a research note on Friday, July 14th. They set a “buy” rating and a $560.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $500.00 to $615.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $532.78.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $546.51, for a total value of $327,906.00. Following the transaction, the chief accounting officer now owns 5,378 shares of the company’s stock, valued at approximately $2,939,130.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 1,647 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $444.29, for a total value of $731,745.63. Following the completion of the transaction, the executive vice president now directly owns 31,761 shares in the company, valued at $14,111,094.69. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Donald A. Zakrowski sold 600 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $546.51, for a total transaction of $327,906.00. Following the completion of the transaction, the chief accounting officer now owns 5,378 shares of the company’s stock, valued at $2,939,130.78. The disclosure for this sale can be found here. Insiders have sold 828,161 shares of company stock valued at $20,988,181,235 in the last quarter. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.