Torch Wealth Management LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 11,325 shares of the company’s stock after selling 120 shares during the period. Torch Wealth Management LLC’s holdings in Eli Lilly and were worth $932,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Eli Lilly and by 3.3% in the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock worth $5,769,694,000 after buying an additional 2,181,701 shares in the last quarter. BlackRock Inc. increased its position in shares of Eli Lilly and by 2,628.5% in the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock worth $5,236,731,000 after buying an additional 59,978,664 shares in the last quarter. State Street Corp increased its position in shares of Eli Lilly and by 1.6% in the first quarter. State Street Corp now owns 42,363,935 shares of the company’s stock worth $3,563,230,000 after buying an additional 651,424 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Eli Lilly and by 8.4% in the first quarter. Geode Capital Management LLC now owns 9,103,975 shares of the company’s stock worth $764,597,000 after buying an additional 708,597 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Eli Lilly and by 2.8% in the first quarter. Janus Capital Management LLC now owns 8,723,692 shares of the company’s stock worth $733,731,000 after buying an additional 237,619 shares in the last quarter. 75.61% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company (NYSE LLY) traded up 0.54% during midday trading on Wednesday, hitting $82.41. 995,104 shares of the stock traded hands. The stock has a market cap of $86.94 billion, a PE ratio of 35.66 and a beta of 0.34. The company has a 50-day moving average of $83.03 and a 200-day moving average of $81.54. Eli Lilly and Company has a 1-year low of $64.18 and a 1-year high of $86.72.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.54%. Eli Lilly and’s dividend payout ratio is 90.04%.

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A number of equities analysts have recently commented on LLY shares. UBS AG downgraded shares of Eli Lilly and to a “hold” rating and set a $85.00 target price on the stock. in a research note on Wednesday, July 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $100.00 target price on shares of Eli Lilly and in a research note on Monday, April 17th. Argus downgraded shares of Eli Lilly and from a “buy” rating to a “hold” rating and raised their target price for the company 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 reissued a “buy” rating and issued a $93.00 target price on shares of Eli Lilly and in a research note on Thursday, June 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued 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’s stock. Eli Lilly and presently has an average rating of “Hold” and an average target price of $88.27.

In related news, VP Michael J. Harrington sold 22,833 shares of the 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 directly owns 62,056 shares in the company, valued at approximately $4,962,618.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $83.05, for a total transaction of $17,855,750.00. Following the completion of the sale, the insider now owns 124,475,804 shares in the company, valued at $10,337,715,522.20. The disclosure for this sale can be found here. Insiders sold a total of 669,733 shares of company stock worth $55,845,287 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

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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