Morgan Stanley boosted its position in Eli Lilly and Company (NYSE:LLY) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,533,329 shares of the company’s stock after acquiring an additional 155,365 shares during the quarter. Morgan Stanley’s holdings in Eli Lilly and were worth $660,097,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Wealthcare Capital Management LLC bought a new stake in Eli Lilly and during the first quarter worth about $30,000. Cranbrook Wealth Management LLC raised its holdings in shares of Eli Lilly and by 162.3% during the 1st quarter. Cranbrook Wealth Management LLC now owns 181 shares of the company’s stock valued at $34,000 after buying an additional 112 shares in the last quarter. Retirement Group LLC bought a new stake in Eli Lilly and in the 4th quarter worth approximately $33,000. Better Money Decisions LLC purchased a new stake in Eli Lilly and in the first quarter worth approximately $46,000. Finally, Tortoise Investment Management LLC grew its position in Eli Lilly and by 100.0% during the first quarter. Tortoise Investment Management LLC now owns 250 shares of the company’s stock valued at $47,000 after acquiring an additional 125 shares during the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.
In other Eli Lilly and news, Director Jackson P. Tai bought 1,366 shares of the stock in a transaction dated Friday, April 30th. The stock was purchased at an average cost of $182.84 per share, for a total transaction of $249,759.44. Following the completion of the acquisition, the director now owns 60,649 shares of the company’s stock, valued at $11,089,063.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 99,931 shares of the business’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $200.48, for a total value of $20,034,166.88. Following the completion of the sale, the insider now directly owns 110,204,369 shares in the company, valued at $22,093,771,897.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 917,387 shares of company stock valued at $211,370,333. 0.13% of the stock is owned by corporate insiders.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Monday, April 26th. The company reported $1.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.25). Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the business earned $1.75 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 7.86 earnings per share for the current fiscal year.
Eli Lilly and announced that its board has approved a stock buyback program on Monday, May 3rd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Friday, August 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, August 12th. This represents a $3.40 annualized dividend and a yield of 1.43%. Eli Lilly and’s payout ratio is 42.88%.
LLY has been the subject of a number of research reports. Truist upped their price objective on shares of Eli Lilly and from $225.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, July 2nd. The Goldman Sachs Group raised their price objective on Eli Lilly and from $252.00 to $270.00 and gave the company a “conviction-buy” rating in a research note on Monday, June 14th. Truist Financial reissued a “buy” rating and issued a $225.00 target price on shares of Eli Lilly and in a research note on Tuesday, June 8th. Truist Securities raised their price target on Eli Lilly and from $225.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, July 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $250.00 price objective on shares of Eli Lilly and in a research report on Wednesday, July 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Eli Lilly and presently has a consensus rating of “Buy” and an average target price of $232.13.
About Eli Lilly and
Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.
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