World Asset Management Inc Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

World Asset Management Inc lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,049 shares of the company’s stock after selling 709 shares during the quarter. World Asset Management Inc’s holdings in Eli Lilly and were worth $4,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LLY. Marcum Wealth LLC grew its holdings in Eli Lilly and by 4.6% in the 2nd quarter. Marcum Wealth LLC now owns 4,272 shares of the company’s stock valued at $981,000 after buying an additional 187 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Eli Lilly and by 22.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 63,398 shares of the company’s stock valued at $14,551,000 after buying an additional 11,698 shares during the period. Principal Financial Group Inc. grew its holdings in Eli Lilly and by 4.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,331,541 shares of the company’s stock valued at $305,615,000 after buying an additional 57,769 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in Eli Lilly and by 3.5% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 14,759 shares of the company’s stock valued at $3,388,000 after buying an additional 504 shares during the period. Finally, Rock Creek Group LP grew its holdings in Eli Lilly and by 35.8% in the 2nd quarter. Rock Creek Group LP now owns 1,291 shares of the company’s stock valued at $296,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 81.65% of the company’s stock.

Shares of NYSE LLY traded up $2.66 during mid-day trading on Wednesday, hitting $235.75. 51,115 shares of the company traded hands, compared to its average volume of 3,539,611. Eli Lilly and Company has a 1 year low of $129.21 and a 1 year high of $275.87. The stock has a market capitalization of $226.09 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.86 and a beta of 0.25. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 2.21. The business has a 50 day moving average of $251.93 and a two-hundred day moving average of $218.56.

Eli Lilly and (NYSE:LLY) last announced its earnings results on Monday, August 2nd. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.02). Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 7.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, August 12th. Eli Lilly and’s payout ratio is 42.88%.

In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 3,060 shares of the company’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $274.08, for a total value of $838,684.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 1,044,132 shares of company stock worth $257,735,592 over the last three months. 0.13% of the stock is owned by insiders.

Several research firms have recently weighed in on LLY. Cantor Fitzgerald lifted their price objective on Eli Lilly and from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Truist started coverage on Eli Lilly and in a research report on Tuesday, July 27th. They issued a “buy” rating and a $262.00 target price on the stock. The Goldman Sachs Group upped their target price on Eli Lilly and from $252.00 to $270.00 and gave the company a “conviction-buy” rating in a research report on Monday, June 14th. Cowen boosted their price target on Eli Lilly and from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Finally, DZ Bank upgraded Eli Lilly and from a “hold” rating to a “buy” rating and set a $288.00 price target for the company in a report on Thursday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Eli Lilly and currently has a consensus rating of “Buy” and a consensus target price of $250.41.

Eli Lilly and Company Profile

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

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