Eli Lilly and Company (LLY) Stake Lowered by Franklin Resources Inc.
Franklin Resources Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,048,562 shares of the company’s stock after selling 1,314,417 shares during the period. Eli Lilly and comprises 1.2% of Franklin Resources Inc.’s portfolio, making the stock its 7th largest position. Franklin Resources Inc. owned 2.66% of Eli Lilly and worth $2,308,402,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of LLY. Heritage Trust Co bought a new position in shares of Eli Lilly and during the first quarter valued at about $135,000. Point72 Asia Hong Kong Ltd raised its stake in shares of Eli Lilly and by 237.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after acquiring an additional 1,239 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Eli Lilly and during the second quarter valued at about $148,000. Cornerstone Advisors Inc. raised its stake in shares of Eli Lilly and by 18.4% during the second quarter. Cornerstone Advisors Inc. now owns 2,013 shares of the company’s stock valued at $166,000 after acquiring an additional 313 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Eli Lilly and by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,024 shares of the company’s stock valued at $170,000 after acquiring an additional 176 shares during the last quarter. 75.66% of the stock is owned by hedge funds and other institutional investors.
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In other news, major shareholder Lilly Endowment Inc sold 180,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $81.06, for a total transaction of $14,590,800.00. Following the transaction, the insider now directly owns 123,865,804 shares in the company, valued at $10,040,562,072.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 770,000 shares of company stock worth $64,669,850 over the last quarter. 0.20% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on LLY shares. UBS AG cut shares of Eli Lilly and to a “hold” rating and set a $85.00 price target on the stock. in a research report on Wednesday, July 26th. BMO Capital Markets reiterated a “sell” rating and set a $71.00 price target on shares of Eli Lilly and in a research report on Thursday, September 28th. Morgan Stanley set a $86.00 price target on shares of Eli Lilly and and gave the company a “hold” rating in a research report on Friday, October 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $105.00 price target on shares of Eli Lilly and in a research report on Friday, October 13th. Finally, Berenberg Bank reiterated a “buy” rating and set a $98.00 price target on shares of Eli Lilly and in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.76.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.08 annualized dividend and a yield of 2.54%. Eli Lilly and’s dividend payout ratio is currently 98.58%.
About Eli Lilly and
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.
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