Oppenheimer Asset Management Inc. Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Oppenheimer Asset Management Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the first quarter, Holdings Channel reports. The institutional investor purchased 323,776 shares of the company’s stock, valued at approximately $27,232,000. Eli Lilly and comprises about 0.8% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in Eli Lilly and by 0.5% in the first quarter. Sunbelt Securities Inc. now owns 3,721 shares of the company’s stock valued at $313,000 after buying an additional 17 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its position in Eli Lilly and by 0.5% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 3,589 shares of the company’s stock valued at $290,000 after buying an additional 19 shares during the last quarter. Pillar Pacific Capital Management LLC increased its position in Eli Lilly and by 0.3% in the first quarter. Pillar Pacific Capital Management LLC now owns 7,077 shares of the company’s stock valued at $595,000 after buying an additional 20 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Eli Lilly and by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,747 shares of the company’s stock valued at $315,000 after buying an additional 25 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in Eli Lilly and by 0.9% in the first quarter. Rehmann Capital Advisory Group now owns 5,026 shares of the company’s stock valued at $423,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 75.61% of the company’s stock.

Eli Lilly and Company (NYSE:LLY) traded down 0.599% during trading on Thursday, reaching $82.075. 363,555 shares of the company’s stock traded hands. The firm has a market capitalization of $86.59 billion, a PE ratio of 35.515 and a beta of 0.34. The company has a 50-day moving average price of $83.02 and a 200 day moving average price of $81.68. Eli Lilly and Company has a one year low of $64.18 and a one year high of $86.72.

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Eli Lilly and’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, August 11th. Eli Lilly and’s dividend payout ratio is currently 90.04%.

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Several research firms have weighed in on LLY. Berenberg Bank reiterated a “buy” rating and issued a $98.00 price target on shares of Eli Lilly and in a research report on Friday, August 4th. Cowen and Company increased their price target on shares of Eli Lilly and from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, April 17th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $88.00 price target on shares of Eli Lilly and in a research report on Sunday, May 21st. TheStreet downgraded shares of Eli Lilly and from a “b+” rating to a “c” rating in a research report on Wednesday, May 31st. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $73.00 price target on shares of Eli Lilly and in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $88.27.

In related news, VP Michael J. Harrington sold 22,833 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the completion of the sale, the vice president now owns 62,056 shares of the company’s stock, valued at $4,962,618.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Melissa S. Barnes sold 1,900 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.78, for a total transaction of $153,482.00. Following the completion of the sale, the insider now directly owns 14,041 shares of the company’s stock, valued at approximately $1,134,231.98. The disclosure for this sale can be found here. Insiders sold 669,733 shares of company stock valued at $55,845,287 in the last three months. 0.20% of the stock is currently owned by 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.

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

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