New England Research & Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

New England Research & Management Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 35.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,795 shares of the company’s stock after selling 1,000 shares during the quarter. New England Research & Management Inc.’s holdings in Eli Lilly and Company were worth $842,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Eli Lilly and Company in the 1st quarter worth approximately $107,000. Roundview Capital LLC grew its stake in shares of Eli Lilly and Company by 2.6% in the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock worth $589,000 after buying an additional 53 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth $210,000. NewEdge Advisors LLC lifted its stake in shares of Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $561,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LLY. Citigroup increased their target price on shares of Eli Lilly and Company from $360.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $617.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, September 5th. Jefferies Financial Group raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the company from $408.00 to $615.00 in a research note on Tuesday, August 8th. Bank of America lifted their price target on shares of Eli Lilly and Company from $500.00 to $600.00 in a research note on Wednesday, August 9th. Finally, Berenberg Bank lifted their price target on shares of Eli Lilly and Company from $375.00 to $500.00 in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $532.78.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $0.91 during trading hours on Thursday, hitting $599.79. 422,911 shares of the stock traded hands, compared to its average volume of 3,005,870. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.13 and a quick ratio of 0.87. The firm’s 50 day moving average price is $504.85 and its 200-day moving average price is $433.48. The stock has a market capitalization of $569.38 billion, a price-to-earnings ratio of 83.29, a P/E/G ratio of 2.36 and a beta of 0.32. Eli Lilly and Company has a 1 year low of $296.32 and a 1 year high of $601.74.

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

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.75%. Eli Lilly and Company’s payout ratio is currently 62.87%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 107,022 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $459.28, for a total transaction of $49,153,064.16. Following the sale, the insider now owns 101,248,810 shares of the company’s stock, valued at approximately $46,501,553,456.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Alonzo Weems sold 1,148 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the transaction, the executive vice president now directly owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 107,022 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $459.28, for a total value of $49,153,064.16. Following the transaction, the insider now directly owns 101,248,810 shares of the company’s stock, valued at $46,501,553,456.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,010,309 shares of company stock worth $21,095,701,670. Insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.