M&G Investment Management Ltd. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 29.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,451 shares of the company’s stock after selling 22,827 shares during the period. M&G Investment Management Ltd.’s holdings in Eli Lilly and were worth $10,369,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LLY. Ironwood Wealth Management LLC. lifted its position in Eli Lilly and by 1,646.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 4,576 shares of the company’s stock worth $773,000 after buying an additional 4,314 shares in the last quarter. Baker Tilly Financial LLC acquired a new position in Eli Lilly and during the 4th quarter worth about $784,000. DB Wealth Management Group LLC acquired a new position in Eli Lilly and during the 4th quarter worth about $34,000. Prio Wealth Limited Partnership lifted its position in Eli Lilly and by 3.8% during the 4th quarter. Prio Wealth Limited Partnership now owns 3,665 shares of the company’s stock worth $619,000 after buying an additional 134 shares in the last quarter. Finally, Camden Capital LLC acquired a new position in Eli Lilly and during the 4th quarter worth about $343,000. Institutional investors and hedge funds own 81.63% of the company’s stock.
In other Eli Lilly and news, Director Jackson P. Tai bought 1,366 shares of the stock in a transaction that occurred on Friday, April 30th. The stock was acquired at an average cost of $182.84 per share, with a total value of $249,759.44. Following the purchase, the director now owns 60,649 shares in the company, valued at $11,089,063.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 7,329 shares of the stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $202.27, for a total value of $1,482,436.83. Following the sale, the insider now directly owns 110,106,402 shares of the company’s stock, valued at $22,271,221,932.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,260 shares of company stock valued at $22,060,744. 0.13% of the stock is owned by company insiders.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Monday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.25). Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the company posted $1.75 earnings per share. Eli Lilly and’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 7.9 EPS for the current year.
Eli Lilly and declared that its board has authorized a share repurchase program on Monday, May 3rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 14th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.46%. Eli Lilly and’s payout ratio is 42.88%.
Several analysts have weighed in on the company. Barclays dropped their price objective on Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating for the company in a report on Wednesday, April 28th. Truist Financial reissued a “buy” rating and set a $225.00 price objective on shares of Eli Lilly and in a report on Tuesday. Morgan Stanley dropped their price objective on Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 28th. Cowen boosted their price objective on Eli Lilly and from $195.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Finally, Truist Securities reissued a “buy” rating and set a $225.00 price objective on shares of Eli Lilly and in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $202.62.
Eli Lilly and Profile
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceuticals worldwide. It offers Baqsimi for severe hypoglycemia; 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, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
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