Institute for Wealth Management LLC. Lowers Position in Eli Lilly And Co (NYSE:LLY)

Institute for Wealth Management LLC. lessened its stake in Eli Lilly And Co (NYSE:LLY) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,129 shares of the company’s stock after selling 522 shares during the period. Institute for Wealth Management LLC.’s holdings in Eli Lilly And Co were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stonebridge Financial Planning Group LLC lifted its position in shares of Eli Lilly And Co by 70.0% during the 1st quarter. Stonebridge Financial Planning Group LLC now owns 170 shares of the company’s stock valued at $25,000 after buying an additional 70 shares in the last quarter. Truvestments Capital LLC acquired a new position in Eli Lilly And Co in the 1st quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Eli Lilly And Co in the 1st quarter valued at $34,000. Bainco International Investors acquired a new position in Eli Lilly And Co in the 1st quarter valued at $34,000. Finally, Center for Financial Planning Inc. raised its stake in Eli Lilly And Co by 44.5% in the 1st quarter. Center for Financial Planning Inc. now owns 289 shares of the company’s stock valued at $40,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 77.32% of the company’s stock.

In related news, SVP Alfonso G. Zulueta sold 11,000 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $170.00, for a total transaction of $1,870,000.00. Following the completion of the transaction, the senior vice president now directly owns 18,646 shares in the company, valued at approximately $3,169,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 212,337 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $162.92, for a total value of $34,593,944.04. Following the transaction, the insider now owns 112,194,732 shares of the company’s stock, valued at $18,278,765,737.44. The disclosure for this sale can be found here. Insiders have sold a total of 555,236 shares of company stock valued at $91,393,391 over the last three months. Corporate insiders own 0.09% of the company’s stock.

LLY has been the subject of several recent research reports. Mizuho increased their price objective on Eli Lilly And Co from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. Morgan Stanley downgraded Eli Lilly And Co from an “overweight” rating to an “equal weight” rating in a research note on Sunday, April 19th. Zacks Investment Research cut their target price on Eli Lilly And Co to $156.00 in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Eli Lilly And Co from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Finally, ValuEngine downgraded Eli Lilly And Co from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Eli Lilly And Co has a consensus rating of “Buy” and an average price target of $168.58.

Shares of NYSE:LLY traded down $2.71 during midday trading on Friday, reaching $150.29. 5,342,109 shares of the company’s stock were exchanged, compared to its average volume of 2,630,266. The firm’s 50 day simple moving average is $160.88 and its two-hundred day simple moving average is $148.62. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market cap of $143.74 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.34 and a beta of 0.26. Eli Lilly And Co has a fifty-two week low of $101.36 and a fifty-two week high of $170.75.

Eli Lilly And Co (NYSE:LLY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.31. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.77 billion. Eli Lilly And Co had a return on equity of 200.78% and a net margin of 24.48%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. Equities research analysts predict that Eli Lilly And Co will post 7.3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, August 13th. Eli Lilly And Co’s payout ratio is 49.01%.

About Eli Lilly And Co

Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.

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

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