RNC Capital Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,852 shares of the company’s stock after selling 2,357 shares during the period. RNC Capital Management LLC’s holdings in Eli Lilly and were worth $4,027,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. United Bank increased its position in shares of Eli Lilly and by 33.8% in the 2nd quarter. United Bank now owns 7,703 shares of the company’s stock valued at $1,265,000 after buying an additional 1,948 shares in the last quarter. FMR LLC boosted its stake in Eli Lilly and by 7.0% in the 2nd quarter. FMR LLC now owns 29,992,097 shares of the company’s stock worth $4,924,101,000 after purchasing an additional 1,954,811 shares during the period. Exencial Wealth Advisors LLC acquired a new position in Eli Lilly and in the 2nd quarter worth $231,000. WFA of San Diego LLC acquired a new position in Eli Lilly and in the 2nd quarter worth $287,000. Finally, Advisors Capital Management LLC boosted its stake in Eli Lilly and by 4.3% in the 2nd quarter. Advisors Capital Management LLC now owns 2,919 shares of the company’s stock worth $479,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 69.85% of the company’s stock.
A number of brokerages recently weighed in on LLY. Sanford C. Bernstein began coverage on shares of Eli Lilly and in a research note on Tuesday, November 10th. They issued a “market perform” rating and a $150.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. ValuEngine lowered shares of Eli Lilly and from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Truist upped their target price on shares of Eli Lilly and from $182.00 to $200.00 in a research note on Tuesday. Finally, Wolfe Research upgraded shares of Eli Lilly and from a “peer perform” rating to an “outperform” rating and increased their price objective for the stock from $147.00 to $183.00 in a research note on Thursday, December 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $171.13.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Sunday, November 1st. The company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.17). Eli Lilly and had a net margin of 24.01% and a return on equity of 166.45%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.87 billion. During the same quarter last year, the business posted $1.48 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Eli Lilly and Company will post 7.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Investors of record on Friday, February 12th will be paid a $0.85 dividend. This is an increase from Eli Lilly and’s previous quarterly dividend of $0.74. This represents a $3.40 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, February 11th. Eli Lilly and’s dividend payout ratio (DPR) is 49.01%.
In related news, major shareholder Lilly Endowment Inc sold 220,000 shares of the firm’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $185.49, for a total value of $40,807,800.00. Following the completion of the sale, the insider now directly owns 111,003,815 shares in the company, valued at approximately $20,590,097,644.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.
Eli Lilly and Profile
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. It offers endocrinology products for diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and paediatric growth conditions. The company also provides neuroscience products for treating depressive disorder, diabetic peripheral neuropathic pain, anxiety disorder, fibromyalgia, and chronic musculoskeletal pain; migraine and episodic cluster headache; attention-deficit hyperactivity disorder; and schizophrenia.
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