Eli Lilly and Company (LLY) Stake Maintained by Cordasco Financial Network
Cordasco Financial Network continued to hold its position in Eli Lilly and Company (NYSE:LLY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,200 shares of the company’s stock at the close of the second quarter. Cordasco Financial Network’s holdings in Eli Lilly and were worth $346,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Heritage Trust Co purchased a new position in shares of Eli Lilly and during the 1st quarter worth about $135,000. Point72 Asia Hong Kong Ltd boosted its stake in shares of Eli Lilly and by 237.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after purchasing an additional 1,239 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Eli Lilly and by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 2,024 shares of the company’s stock worth $170,000 after purchasing an additional 176 shares during the period. American National Bank boosted its stake in shares of Eli Lilly and by 5.2% during the 2nd quarter. American National Bank now owns 2,088 shares of the company’s stock worth $172,000 after purchasing an additional 104 shares during the period. Finally, Sandy Spring Bank boosted its stake in shares of Eli Lilly and by 51.8% during the 1st quarter. Sandy Spring Bank now owns 2,198 shares of the company’s stock worth $185,000 after purchasing an additional 750 shares during the period. 75.77% of the stock is owned by hedge funds and other institutional investors.
Eli Lilly and Company (NYSE:LLY) traded down 0.76% during midday trading on Friday, hitting $82.44. 5,374,504 shares of the stock traded hands. The firm has a market cap of $86.97 billion, a P/E ratio of 35.67 and a beta of 0.34. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $86.72. The company’s 50-day moving average is $80.89 and its 200 day moving average is $82.06.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.06. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $2.08 annualized dividend and a yield of 2.52%. Eli Lilly and’s dividend payout ratio (DPR) is 90.04%.
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A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $86.00 price target on shares of Eli Lilly and in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $89.00 price target on shares of Eli Lilly and in a research note on Monday, September 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $105.00 price target (up from $103.00) on shares of Eli Lilly and in a research note on Friday, September 8th. BMO Capital Markets reaffirmed an “underperform” rating and set a $71.00 price target (down from $73.00) on shares of Eli Lilly and in a research note on Wednesday, September 6th. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Eli Lilly and in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $88.27.
In related news, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $83.05, for a total value of $17,855,750.00. Following the sale, the insider now owns 124,475,804 shares of the company’s stock, valued at $10,337,715,522.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 825,000 shares of company stock worth $68,456,650. 0.20% of the stock is owned by corporate insiders.
Eli Lilly and 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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