Abbrea Capital LLC Acquires New Stake in Eli Lilly and Company (NYSE:LLY)
Abbrea Capital LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the first quarter, Holdings Channel reports. The firm acquired 2,403 shares of the company’s stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in LLY. Pinnacle Financial Partners Inc. raised its position in shares of Eli Lilly and by 24.3% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 31,574 shares of the company’s stock valued at $2,323,000 after buying an additional 6,170 shares during the last quarter. RB Capital Management LLC bought a new position in shares of Eli Lilly and during the fourth quarter valued at $341,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Eli Lilly and during the fourth quarter valued at $46,505,000. Independent Advisor Alliance bought a new position in shares of Eli Lilly and during the fourth quarter valued at $1,547,000. Finally, Archford Capital Strategies LLC raised its position in shares of Eli Lilly and by 53.9% in the fourth quarter. Archford Capital Strategies LLC now owns 12,730 shares of the company’s stock valued at $935,000 after buying an additional 4,456 shares during the last quarter. Institutional investors and hedge funds own 75.47% of the company’s stock.
Shares of Eli Lilly and Company (LLY) opened at 83.64 on Tuesday. The firm has a market cap of $88.35 billion, a P/E ratio of 40.44 and a beta of 0.35. Eli Lilly and Company has a 52-week low of $64.18 and a 52-week high of $86.72. The stock’s 50 day moving average is $80.49 and its 200-day moving average is $79.95.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.22 billion. Eli Lilly and had a return on equity of 26.64% and a net margin of 10.13%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Equities analysts anticipate that Eli Lilly and Company will post $4.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, August 11th. Eli Lilly and’s dividend payout ratio is currently 100.48%.
Several research analysts have recently weighed in on LLY shares. UBS AG increased their price objective on shares of Eli Lilly and from $70.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 20th. Leerink Swann reiterated an “outperform” rating on shares of Eli Lilly and in a report on Monday, March 20th. Credit Suisse Group restated a “buy” rating on shares of Eli Lilly and in a report on Tuesday, March 21st. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Tuesday, April 4th. Finally, Citigroup Inc. restated a “buy” rating and issued a $100.00 price target on shares of Eli Lilly and in a report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $87.75.
In other news, SVP Enrique A. Conterno sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $82.76, for a total transaction of $2,069,000.00. Following the sale, the senior vice president now directly owns 114,217 shares in the company, valued at $9,452,598.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael J. Harrington sold 22,833 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the sale, the vice president now owns 62,056 shares in the company, valued at $4,962,618.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 474,733 shares of company stock worth $39,634,487. Company insiders own 0.20% of the company’s stock.
About Eli Lilly and
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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