Dock Street Asset Management Inc. Buys New Position in Eli Lilly and Company (NYSE:LLY)

Dock Street Asset Management Inc. bought a new stake in shares of Eli Lilly and Company (NYSE:LLYGet Rating) in the first quarter, Holdings Channel reports. The firm bought 721 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. AllSquare Wealth Management LLC purchased a new position in Eli Lilly and during the 4th quarter valued at about $28,000. HWG Holdings LP purchased a new position in shares of Eli Lilly and in the 4th quarter valued at about $28,000. Icapital Wealth LLC purchased a new position in shares of Eli Lilly and in the 1st quarter valued at about $28,000. Leverty Financial Group LLC purchased a new position in shares of Eli Lilly and in the 4th quarter valued at about $29,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in shares of Eli Lilly and in the 4th quarter valued at about $30,000. Institutional investors own 82.75% of the company’s stock.

Several brokerages have recently issued reports on LLY. Morgan Stanley lifted their price objective on Eli Lilly and from $364.00 to $369.00 in a research note on Friday, April 29th. Bank of America lifted their price objective on Eli Lilly and from $300.00 to $315.00 in a research note on Thursday, March 17th. SVB Leerink assumed coverage on Eli Lilly and in a research note on Monday, May 23rd. They issued an “outperform” rating and a $341.00 price objective for the company. Daiwa Capital Markets assumed coverage on Eli Lilly and in a research note on Thursday, March 10th. They set an “outperform” rating and a $286.00 target price for the company. Finally, StockNews.com cut Eli Lilly and from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $311.00.

In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of Eli Lilly and stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $318.98, for a total value of $63,796,000.00. Following the sale, the insider now directly owns 104,833,810 shares in the company, valued at $33,439,888,713.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $313.44, for a total value of $313,440.00. Following the completion of the sale, the chief accounting officer now owns 6,274 shares in the company, valued at $1,966,522.56. The disclosure for this sale can be found here. In the last three months, insiders sold 848,630 shares of company stock worth $259,239,945. Corporate insiders own 0.12% of the company’s stock.

LLY traded up $3.46 during trading on Thursday, hitting $310.15. 62,336 shares of the stock were exchanged, compared to its average volume of 2,977,431. The firm has a market capitalization of $294.69 billion, a P/E ratio of 45.44, a PEG ratio of 2.06 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $217.00 and a 1-year high of $324.08. The stock has a fifty day moving average price of $297.48 and a two-hundred day moving average price of $274.96. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 1.60.

Eli Lilly and (NYSE:LLYGet Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.32 by $0.30. The company had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.29 billion. Eli Lilly and had a return on equity of 97.58% and a net margin of 20.90%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 earnings per share. Analysts predict that Eli Lilly and Company will post 8.27 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Monday, May 16th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, May 13th. Eli Lilly and’s payout ratio is currently 58.07%.

Eli Lilly and Profile (Get Rating)

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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Institutional Ownership by Quarter for Eli Lilly and (NYSE:LLY)

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