Investors bought shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading on Wednesday. $63.72 million flowed into the stock on the tick-up and $28.58 million flowed out of the stock on the tick-down, for a money net flow of $35.14 million into the stock. Of all companies tracked, Eli Lilly and had the highest net in-flow for the day. Eli Lilly and traded down ($1.13) for the day and closed at $78.44

A number of research firms have recently weighed in on LLY. Leerink Swann restated an “outperform” rating and issued a $105.00 target price on shares of Eli Lilly and in a report on Saturday, August 13th. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Friday, August 5th. Citigroup Inc. restated a “buy” rating on shares of Eli Lilly and in a report on Wednesday, August 3rd. Argus boosted their target price on shares of Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $94.00 target price on shares of Eli Lilly and in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $96.58.

The company has a 50-day moving average of $80.76 and a 200-day moving average of $76.06. The stock has a market capitalization of $82.97 billion and a PE ratio of 33.81.

Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.86. The business earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Eli Lilly and Co. will post $3.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a $0.51 dividend. The ex-dividend date is Thursday, August 11th. This represents a $2.04 dividend on an annualized basis and a yield of 2.60%.

In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of Eli Lilly and stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $75.12, for a total value of $15,024,000.00. Following the completion of the transaction, the insider now owns 127,090,804 shares in the company, valued at $9,547,061,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jackson P. Tai purchased 5,773 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average price of $80.43 per share, with a total value of $464,322.39. Following the purchase, the director now directly owns 42,306 shares of the company’s stock, valued at $3,402,671.58. The disclosure for this purchase can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Eaton Vance Management increased its position in shares of Eli Lilly and by 3.6% in the fourth quarter. Eaton Vance Management now owns 2,889,176 shares of the company’s stock worth $243,442,000 after buying an additional 99,792 shares in the last quarter. Greenwood Capital Associates LLC increased its position in shares of Eli Lilly and by 22.0% in the fourth quarter. Greenwood Capital Associates LLC now owns 42,826 shares of the company’s stock worth $3,609,000 after buying an additional 7,727 shares in the last quarter. Homrich & Berg increased its position in shares of Eli Lilly and by 1.9% in the fourth quarter. Homrich & Berg now owns 16,855 shares of the company’s stock worth $1,420,000 after buying an additional 317 shares in the last quarter. I.G. Investment Management LTD. increased its position in shares of Eli Lilly and by 21.4% in the fourth quarter. I.G. Investment Management LTD. now owns 299,426 shares of the company’s stock worth $25,230,000 after buying an additional 52,713 shares in the last quarter. Finally, Stephens Inc. AR increased its position in shares of Eli Lilly and by 10.7% in the fourth quarter. Stephens Inc. AR now owns 35,447 shares of the company’s stock worth $2,987,000 after buying an additional 3,426 shares in the last quarter.

Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.

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