City State Bank Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

City State Bank trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,768 shares of the company’s stock after selling 23 shares during the period. Eli Lilly and Company makes up 1.0% of City State Bank’s investment portfolio, making the stock its 23rd largest holding. City State Bank’s holdings in Eli Lilly and Company were worth $1,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. raised its holdings in shares of Eli Lilly and Company by 2.0% during the second quarter. Financial Management Professionals Inc. now owns 2,706 shares of the company’s stock valued at $1,269,000 after purchasing an additional 52 shares during the last quarter. Foster Group Inc. raised its holdings in shares of Eli Lilly and Company by 25.5% during the second quarter. Foster Group Inc. now owns 1,449 shares of the company’s stock valued at $680,000 after purchasing an additional 294 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Eli Lilly and Company by 1.1% during the second quarter. Quent Capital LLC now owns 4,423 shares of the company’s stock valued at $2,074,000 after purchasing an additional 48 shares during the last quarter. B.O.S.S. Retirement Advisors LLC increased its holdings in Eli Lilly and Company by 626.2% during the second quarter. B.O.S.S. Retirement Advisors LLC now owns 4,241 shares of the company’s stock valued at $1,989,000 after buying an additional 3,657 shares during the last quarter. Finally, Telemus Capital LLC increased its holdings in Eli Lilly and Company by 2.1% during the second quarter. Telemus Capital LLC now owns 2,857 shares of the company’s stock valued at $1,340,000 after buying an additional 58 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on LLY shares. 22nd Century Group reaffirmed a “maintains” rating on shares of Eli Lilly and Company in a report on Tuesday, June 27th. Berenberg Bank upped their target price on shares of Eli Lilly and Company from $375.00 to $500.00 in a report on Tuesday, June 20th. Jefferies Financial Group raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their target price for the company from $408.00 to $615.00 in a report on Tuesday, August 8th. Credit Suisse Group upped their target price on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $630.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $532.78.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 34,156 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total value of $15,509,556.48. Following the sale, the insider now owns 101,387,286 shares of the company’s stock, valued at $46,037,938,826.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Donald A. Zakrowski sold 600 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,378 shares of the company’s stock, valued at $2,939,130.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 34,156 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total transaction of $15,509,556.48. Following the completion of the sale, the insider now directly owns 101,387,286 shares in the company, valued at approximately $46,037,938,826.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,010,309 shares of company stock valued at $21,095,701,670. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

LLY stock opened at $575.66 on Friday. Eli Lilly and Company has a 52 week low of $296.32 and a 52 week high of $601.84. 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 company has a fifty day simple moving average of $512.56 and a two-hundred day simple moving average of $438.41. The firm has a market capitalization of $546.47 billion, a P/E ratio of 80.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.32.

Eli Lilly and Company (NYSE:LLY) last released 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 analyst estimates of $7.58 billion. During the same quarter last year, the business earned $1.25 earnings per share. Eli Lilly and Company’s quarterly revenue was up 28.1% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 9.84 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $4.52 annualized dividend and a yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 62.87%.

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.