Eli Lilly and Company (NYSE:LLY) is Herbst Group LLC’s 3rd Largest Position

Herbst Group LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 11,263 shares of the company’s stock after selling 387 shares during the quarter. Eli Lilly and Company makes up 3.6% of Herbst Group LLC’s holdings, making the stock its 3rd largest position. Herbst Group LLC’s holdings in Eli Lilly and Company were worth $5,282,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Patton Fund Management Inc. increased its holdings in shares of Eli Lilly and Company by 101.2% in the 2nd quarter. Patton Fund Management Inc. now owns 8,817 shares of the company’s stock valued at $4,135,000 after purchasing an additional 4,435 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 16.6% in the 2nd quarter. Beacon Capital Management LLC now owns 1,121 shares of the company’s stock valued at $526,000 after purchasing an additional 160 shares in the last quarter. Lantz Financial LLC increased its holdings in shares of Eli Lilly and Company by 9.3% in the 2nd quarter. Lantz Financial LLC now owns 1,110 shares of the company’s stock valued at $521,000 after purchasing an additional 94 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $268,000. Finally, Bath Savings Trust Co increased its stake in Eli Lilly and Company by 13.1% in the 2nd quarter. Bath Savings Trust Co now owns 19,374 shares of the company’s stock valued at $9,086,000 after purchasing an additional 2,242 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.1 %

Eli Lilly and Company stock traded up $6.43 during trading on Tuesday, reaching $577.71. The company had a trading volume of 511,497 shares, compared to its average volume of 3,022,557. Eli Lilly and Company has a 12-month low of $296.32 and a 12-month high of $601.84. The stock’s 50 day moving average price is $512.56 and its two-hundred day moving average price is $439.28. The firm has a market capitalization of $548.41 billion, a price-to-earnings ratio of 80.02, a PEG ratio of 2.37 and a beta of 0.32. 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 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. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 9.84 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were issued a $1.13 dividend. The ex-dividend date was Monday, August 14th. This represents a $4.52 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 62.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Bank of America raised their target price on shares of Eli Lilly and Company from $500.00 to $600.00 in a report on Wednesday, August 9th. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley raised 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 report on Tuesday, September 5th. Finally, HSBC initiated coverage on Eli Lilly and Company in a research report on Friday, July 14th. They set a “buy” rating and a $560.00 price target for the company. One 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’s stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $532.78.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 11,760 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $465.41, for a total value of $5,473,221.60. Following the completion of the sale, the insider now owns 101,237,050 shares of the company’s stock, valued at $47,116,735,440.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 11,760 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $465.41, for a total value of $5,473,221.60. Following the completion of the transaction, the insider now owns 101,237,050 shares in the company, valued at approximately $47,116,735,440.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $546.51, for a total value 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 approximately $2,939,130.78. The disclosure for this sale can be found here. Insiders have sold 976,153 shares of company stock valued at $21,080,192,113 over the last three months. 0.13% of the stock is owned by company insiders.

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.