Northern Trust Corp trimmed its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,802,958 shares of the company’s stock after selling 687,502 shares during the quarter. Eli Lilly and Company makes up approximately 0.9% of Northern Trust Corp’s holdings, making the stock its 15th largest position. Northern Trust Corp owned 1.03% of Eli Lilly and Company worth $4,597,391,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Eli Lilly and Company in the first quarter worth about $107,000. Roundview Capital LLC lifted its holdings 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 purchasing an additional 53 shares during the last quarter. Merit Financial Group LLC acquired a new position in Eli Lilly and Company during the 1st quarter valued at approximately $210,000. NewEdge Advisors LLC grew its stake in Eli Lilly and Company by 9.9% during the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock worth $15,193,000 after buying an additional 4,774 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in Eli Lilly and Company in the first quarter worth $561,000. 81.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LLY. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, November 9th. They set a “hold” rating and a $535.00 price target for the company. Citigroup raised their price target on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS Group reiterated a “buy” rating and set a $710.00 price objective (up from $612.00) on shares of Eli Lilly and Company in a research report on Friday, October 20th. Royal Bank of Canada raised their target price on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group boosted their price target on Eli Lilly and Company from $490.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $557.00.
Insiders Place Their Bets
In other news, major shareholder Lilly Endowment Inc sold 63,572 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $554.38, for a total transaction of $35,243,045.36. Following the sale, the insider now owns 100,312,939 shares in the company, valued at $55,611,487,122.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Alonzo Weems sold 1,148 shares of Eli Lilly and Company stock in a transaction 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 sale, the executive vice president now owns 7,760 shares of the company’s stock, valued at $4,586,004.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 63,572 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $554.38, for a total transaction of $35,243,045.36. Following the completion of the sale, the insider now owns 100,312,939 shares of the company’s stock, valued at $55,611,487,122.82. The disclosure for this sale can be found here. Insiders sold a total of 535,538 shares of company stock worth $20,881,299,452 over the last ninety days. 0.13% of the stock is currently owned by company insiders.
Eli Lilly and Company Stock Up 0.5 %
Shares of Eli Lilly and Company stock opened at $600.53 on Tuesday. Eli Lilly and Company has a 12-month low of $309.20 and a 12-month high of $629.97. The firm has a market capitalization of $570.09 billion, a PE ratio of 108.30, a price-to-earnings-growth ratio of 3.57 and a beta of 0.33. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59. The stock’s fifty day moving average is $578.02 and its 200-day moving average is $511.14.
Eli Lilly and Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.
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.
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