Eli Lilly and Company (NYSE:LLY) Stake Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,869,805 shares of the company’s stock after selling 52,135 shares during the quarter. Eli Lilly and Company comprises about 20.7% of PNC Financial Services Group Inc.’s portfolio, making the stock its biggest holding. PNC Financial Services Group Inc. owned approximately 5.46% of Eli Lilly and Company worth $24,325,901,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Silicon Valley Capital Partners purchased a new stake in Eli Lilly and Company in the 1st quarter valued at $25,000. Laffer Tengler Investments acquired a new stake in Eli Lilly and Company during the first quarter worth about $33,000. Raleigh Capital Management Inc. increased its position in Eli Lilly and Company by 156.4% during the first quarter. Raleigh Capital Management Inc. now owns 100 shares of the company’s stock worth $34,000 after purchasing an additional 61 shares during the last quarter. Activest Wealth Management acquired a new position in Eli Lilly and Company in the 2nd quarter valued at about $40,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in shares of Eli Lilly and Company by 50.4% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 179 shares of the company’s stock valued at $61,000 after buying an additional 60 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 670 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $571.10, for a total value of $382,637.00. Following the completion of the sale, the chief accounting officer now owns 4,708 shares in the company, valued at $2,688,738.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 215,000 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the completion of the sale, the insider now directly owns 99,768,810 shares of the company’s stock, valued at approximately $60,404,028,326.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 670 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $571.10, for a total value of $382,637.00. Following the completion of the transaction, the chief accounting officer now owns 4,708 shares in the company, valued at $2,688,738.80. The disclosure for this sale can be found here. Insiders have sold 535,538 shares of company stock worth $20,881,299,452 in the last quarter. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

LLY traded up $0.30 on Tuesday, reaching $597.90. The company had a trading volume of 214,727 shares, compared to its average volume of 3,090,562. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59. Eli Lilly and Company has a 1 year low of $309.20 and a 1 year high of $629.97. The stock has a market capitalization of $567.59 billion, a PE ratio of 108.30, a P/E/G ratio of 3.57 and a beta of 0.33. The stock has a 50-day moving average price of $578.02 and a 200-day moving average price of $511.14.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be given a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 81.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets lifted their target price on Eli Lilly and Company from $565.00 to $633.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Bank of America upped their price target on Eli Lilly and Company from $600.00 to $700.00 in a research note on Friday, October 6th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Wednesday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $630.00 target price on shares of Eli Lilly and Company in a report on Wednesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Eli Lilly and Company in a research note on Thursday, November 9th. They set a “hold” rating and a $535.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $557.00.

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.