Van ECK Associates Corp raised its stake in Eli Lilly and Company (NYSE:LLY) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 519,839 shares of the company’s stock after buying an additional 41,442 shares during the period. Van ECK Associates Corp’s holdings in Eli Lilly and were worth $43,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. UBS Asset Management Americas Inc. increased its position in shares of Eli Lilly and by 7.5% in the first quarter. UBS Asset Management Americas Inc. now owns 6,888,963 shares of the company’s stock valued at $579,431,000 after buying an additional 482,576 shares in the last quarter. Swiss National Bank increased its position in shares of Eli Lilly and by 24.2% in the first quarter. Swiss National Bank now owns 4,011,443 shares of the company’s stock valued at $337,402,000 after buying an additional 781,800 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Eli Lilly and by 30.3% in the first quarter. Alliancebernstein L.P. now owns 3,477,371 shares of the company’s stock valued at $292,482,000 after buying an additional 808,186 shares in the last quarter. American Century Companies Inc. increased its position in shares of Eli Lilly and by 18.2% in the first quarter. American Century Companies Inc. now owns 2,754,819 shares of the company’s stock valued at $231,708,000 after buying an additional 424,763 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Eli Lilly and by 11.5% in the first quarter. Fisher Asset Management LLC now owns 2,581,462 shares of the company’s stock valued at $217,127,000 after buying an additional 266,698 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.

Eli Lilly and Company (NYSE LLY) opened at 82.31 on Friday. The firm has a market cap of $86.84 billion, a PE ratio of 35.62 and a beta of 0.34. The stock’s 50 day moving average price is $82.99 and its 200-day moving average price is $81.53. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $86.72.

Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, August 11th. Eli Lilly and’s payout ratio is currently 90.04%.

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LLY has been the subject of several research analyst reports. UBS AG downgraded Eli Lilly and to a “hold” rating and set a $85.00 target price for the company. in a research note on Wednesday, July 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 target price on shares of Eli Lilly and in a research note on Monday, April 17th. Argus downgraded Eli Lilly and from a “buy” rating to a “hold” rating and lifted their target price for the stock from $64.18 to $81.00 in a research note on Thursday, April 27th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating and set a $93.00 target price on shares of Eli Lilly and in a research note on Thursday, June 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $88.00 target price on shares of Eli Lilly and in a research note on Sunday, May 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $88.27.

In related news, insider Melissa S. Barnes sold 1,900 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.78, for a total value of $153,482.00. Following the sale, the insider now owns 14,041 shares in the company, valued at $1,134,231.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $83.09, for a total value of $18,279,800.00. Following the completion of the sale, the insider now owns 124,049,283 shares in the company, valued at approximately $10,307,254,924.47. The disclosure for this sale can be found here. Insiders sold 669,733 shares of company stock valued at $55,845,287 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Eli Lilly and Company Profile

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

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