Retirement Systems of Alabama boosted its position in shares of Eli Lilly and Co. (NYSE:LLY) by 55.0% during the third quarter, Holdings Channel reports. The firm owned 850,284 shares of the company’s stock after buying an additional 301,762 shares during the period. Retirement Systems of Alabama’s holdings in Eli Lilly and were worth $68,244,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new position in shares of Eli Lilly and during the first quarter worth approximately $482,000. Iowa State Bank bought a new position in shares of Eli Lilly and during the second quarter worth approximately $104,000. Stock Yards Bank & Trust Co. boosted its position in shares of Eli Lilly and by 11.0% in the second quarter. Stock Yards Bank & Trust Co. now owns 22,976 shares of the company’s stock worth $1,810,000 after buying an additional 2,283 shares in the last quarter. New England Research & Management Inc. bought a new position in shares of Eli Lilly and during the second quarter worth approximately $583,000. Finally, Park National Corp OH boosted its position in shares of Eli Lilly and by 12.7% in the second quarter. Park National Corp OH now owns 100,178 shares of the company’s stock worth $7,889,000 after buying an additional 11,283 shares in the last quarter. Institutional investors own 73.93% of the company’s stock.
Eli Lilly and Co. (NYSE:LLY) opened at 67.20 on Tuesday. Eli Lilly and Co. has a one year low of $64.18 and a one year high of $88.16. The company has a market capitalization of $71.08 billion, a price-to-earnings ratio of 29.23 and a beta of 0.28. The company has a 50-day moving average price of $76.26 and a 200-day moving average price of $77.88.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. The company earned $5.19 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Co. will post $3.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 10th. Eli Lilly and’s payout ratio is presently 88.70%.
A number of research analysts have commented on LLY shares. Argus boosted their price objective on Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Citigroup Inc. restated a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Zacks Investment Research cut Eli Lilly and from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Leerink Swann reiterated an “outperform” rating and issued a $105.00 price target on shares of Eli Lilly and in a research note on Saturday, August 13th. Finally, JPMorgan Chase & Co. upgraded Eli Lilly and from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $92.00 to $95.00 in a research note on Thursday, September 8th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $108.34.
In related news, insider Maria A. Crowe sold 2,248 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $81.37, for a total value of $182,919.76. Following the completion of the sale, the insider now owns 94,319 shares in the company, valued at $7,674,737.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.
Eli Lilly and Company 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.