Capital Market Strategies LLC Makes New $1.46 Million Investment in Eli Lilly and Company (NYSE:LLY)

Capital Market Strategies LLC bought a new position in Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,116 shares of the company’s stock, valued at approximately $1,461,000. Eli Lilly and Company accounts for approximately 1.4% of Capital Market Strategies LLC’s portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Eli Lilly and Company by 4.8% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,966 shares of the company’s stock valued at $28,449,000 after purchasing an additional 3,768 shares during the last quarter. L2 Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 4.5% in the 1st quarter. L2 Asset Management LLC now owns 2,014 shares of the company’s stock valued at $692,000 after purchasing an additional 86 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Eli Lilly and Company by 44.2% in the 1st quarter. Patten & Patten Inc. TN now owns 17,177 shares of the company’s stock valued at $5,899,000 after purchasing an additional 5,266 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of Eli Lilly and Company by 3.2% in the 1st quarter. Missouri Trust & Investment Co now owns 774 shares of the company’s stock valued at $266,000 after purchasing an additional 24 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $859,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, EVP Alonzo Weems sold 1,148 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the sale, the executive vice president now owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Alonzo Weems sold 1,148 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the sale, the executive vice president now owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 591 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $466.62, for a total transaction of $275,772.42. Following the sale, the insider now directly owns 101,028,219 shares of the company’s stock, valued at approximately $47,141,787,549.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,010,309 shares of company stock valued at $21,095,701,670. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $591.77 on Friday. The company has a 50-day moving average of $507.52 and a 200-day moving average of $434.64. The company has a market capitalization of $561.76 billion, a P/E ratio of 82.30, a PEG ratio of 2.47 and a beta of 0.32. Eli Lilly and Company has a 1-year low of $296.32 and a 1-year high of $601.84. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.87 and a current ratio of 1.13.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.13. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The company’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. Equities analysts expect that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, August 14th. Eli Lilly and Company’s payout ratio is currently 62.87%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LLY shares. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $565.00 to $633.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Morgan Stanley lifted their price target on shares of Eli Lilly and Company from $617.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, September 5th. 22nd Century Group reiterated a “maintains” rating on shares of Eli Lilly and Company in a report on Tuesday, June 27th. Cantor Fitzgerald restated an “overweight” rating and set a $630.00 target price on shares of Eli Lilly and Company in a report on Tuesday, September 5th. Finally, Argus lifted their target price on shares of Eli Lilly and Company from $470.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $532.78.

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.