Palladium Partners LLC Cuts Stake in Eli Lilly And Co (LLY)
Palladium Partners LLC lessened its stake in shares of Eli Lilly And Co (NYSE:LLY) by 29.0% in the first quarter, Holdings Channel reports. The institutional investor owned 163,203 shares of the company’s stock after selling 66,530 shares during the quarter. Eli Lilly And Co comprises about 1.5% of Palladium Partners LLC’s investment portfolio, making the stock its 17th biggest position. Palladium Partners LLC’s holdings in Eli Lilly And Co were worth $21,177,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in Eli Lilly And Co by 17,720.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 42,420,406 shares of the company’s stock worth $367,000 after acquiring an additional 42,182,367 shares during the period. Norges Bank bought a new position in Eli Lilly And Co during the fourth quarter worth about $1,056,086,000. FMR LLC increased its position in Eli Lilly And Co by 83.9% during the fourth quarter. FMR LLC now owns 13,687,081 shares of the company’s stock worth $1,583,870,000 after acquiring an additional 6,242,865 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Eli Lilly And Co by 165.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,012,822 shares of the company’s stock worth $695,804,000 after acquiring an additional 3,747,482 shares during the period. Finally, BlackRock Inc. increased its position in Eli Lilly And Co by 3.0% during the fourth quarter. BlackRock Inc. now owns 68,956,519 shares of the company’s stock worth $7,979,649,000 after acquiring an additional 2,030,845 shares during the period. Institutional investors own 80.69% of the company’s stock.
LLY stock opened at $116.81 on Friday. The company has a debt-to-equity ratio of 5.50, a quick ratio of 0.85 and a current ratio of 1.12. Eli Lilly And Co has a 12 month low of $81.65 and a 12 month high of $132.13. The stock has a market capitalization of $113.18 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.07 and a beta of 0.27.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, May 16th. Eli Lilly And Co’s dividend payout ratio is currently 46.49%.
In other Eli Lilly And Co news, major shareholder Lilly Endowment Inc sold 205,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $131.41, for a total value of $26,939,050.00. Following the transaction, the insider now directly owns 116,814,018 shares of the company’s stock, valued at approximately $15,350,530,105.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christi Shaw sold 7,577 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $117.14, for a total transaction of $887,569.78. Following the completion of the transaction, the senior vice president now directly owns 500 shares in the company, valued at $58,570. The disclosure for this sale can be found here. Over the last three months, insiders sold 445,959 shares of company stock worth $57,322,302. Insiders own 0.11% of the company’s stock.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Eli Lilly And Co from a “buy” rating to a “hold” rating in a research report on Tuesday. TheStreet lowered shares of Eli Lilly And Co from a “b+” rating to a “c+” rating in a research report on Thursday, May 9th. BMO Capital Markets lowered their price target on shares of Eli Lilly And Co to $130.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Barclays reaffirmed a “buy” rating and set a $140.00 price target on shares of Eli Lilly And Co in a research report on Sunday, April 14th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $143.00 price target on shares of Eli Lilly And Co in a research report on Tuesday, April 30th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $118.15.
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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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