State Street Corp Purchases 642,274 Shares of Eli Lilly and Company (NYSE:LLY)

by · The Cerbat Gem

State Street Corp grew its holdings in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 1.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 33,878,417 shares of the company’s stock after buying an additional 642,274 shares during the period. Eli Lilly and Company accounts for 0.8% of State Street Corp’s portfolio, making the stock its 17th largest position. State Street Corp’s holdings in Eli Lilly and Company were worth $15,888,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guyasuta Investment Advisors Inc. lifted its position in shares of Eli Lilly and Company by 4.6% during the second quarter. Guyasuta Investment Advisors Inc. now owns 3,024 shares of the company’s stock worth $1,418,000 after purchasing an additional 132 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Eli Lilly and Company by 4.8% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,966 shares of the company’s stock valued at $28,449,000 after buying an additional 3,768 shares in the last quarter. Baystate Wealth Management LLC boosted its position in Eli Lilly and Company by 688.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 3,736 shares of the company’s stock valued at $1,752,000 after buying an additional 3,262 shares during the period. Simon Quick Advisors LLC boosted its position in Eli Lilly and Company by 13.0% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,874 shares of the company’s stock valued at $879,000 after buying an additional 215 shares during the period. Finally, Martin Capital Partners LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth about $234,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 215,000 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $605.44, for a total value of $130,169,600.00. Following the sale, the insider now owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Donald A. Zakrowski sold 670 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $571.10, for a total transaction of $382,637.00. Following the sale, the chief accounting officer now directly owns 4,708 shares of the company’s stock, valued at $2,688,738.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the completion of the transaction, the insider now directly owns 99,768,810 shares of the company’s stock, valued at approximately $60,404,028,326.40. The disclosure for this sale can be found here. Insiders sold 426,818 shares of company stock worth $251,226,782 over the last three months. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $0.20 during mid-day trading on Wednesday, reaching $587.95. The stock had a trading volume of 431,724 shares, compared to its average volume of 3,068,558. Eli Lilly and Company has a 1-year low of $309.20 and a 1-year high of $629.97. The firm has a market cap of $558.15 billion, a price-to-earnings ratio of 106.55, a PEG ratio of 3.55 and a beta of 0.33. The company has a current ratio of 1.05, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. The business’s fifty day moving average is $582.49 and its 200-day moving average is $523.28.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.18. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. On average, research analysts forecast that Eli Lilly and Company will post 6.62 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 81.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Argus lifted their price target on shares of Eli Lilly and Company from $470.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. BMO Capital Markets raised their price target on Eli Lilly and Company from $565.00 to $633.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, November 29th. Finally, Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $570.82.

Get Our Latest Stock Analysis on LLY

Eli Lilly and Company Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

Further Reading

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