Carnegie Capital Asset Management LLC Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Carnegie Capital Asset Management LLC decreased its holdings in Eli Lilly and Company (NYSE:LLYGet Rating) by 19.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,256 shares of the company’s stock after selling 1,464 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Eli Lilly and were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. PFG Advisors boosted its position in shares of Eli Lilly and by 12.1% in the second quarter. PFG Advisors now owns 1,224 shares of the company’s stock valued at $397,000 after acquiring an additional 132 shares during the period. Traverso Chambers Private Wealth Management LLC bought a new position in shares of Eli Lilly and in the second quarter valued at approximately $220,000. Keystone Wealth Services LLC bought a new position in shares of Eli Lilly and in the second quarter valued at approximately $209,000. Allworth Financial LP boosted its position in shares of Eli Lilly and by 31.3% in the second quarter. Allworth Financial LP now owns 2,190 shares of the company’s stock valued at $710,000 after acquiring an additional 522 shares during the period. Finally, Fusion Capital LLC boosted its position in shares of Eli Lilly and by 0.5% in the second quarter. Fusion Capital LLC now owns 26,038 shares of the company’s stock valued at $8,442,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LLY. BMO Capital Markets raised their price objective on shares of Eli Lilly and from $369.00 to $396.00 and gave the company an “outperform” rating in a research report on Tuesday, September 6th. UBS Group upgraded shares of Eli Lilly and from a “neutral” rating to a “buy” rating and lifted their target price for the company from $335.00 to $363.00 in a research report on Thursday. StockNews.com upgraded shares of Eli Lilly and from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and from $340.00 to $355.00 in a research report on Wednesday, June 1st. Finally, Barclays lifted their target price on shares of Eli Lilly and from $333.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $332.19.

Insider Buying and Selling

In other news, Director Jackson P. Tai bought 656 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were bought at an average cost of $304.19 per share, with a total value of $199,548.64. Following the completion of the purchase, the director now directly owns 62,857 shares in the company, valued at $19,120,470.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jackson P. Tai acquired 656 shares of Eli Lilly and stock in a transaction on Friday, August 12th. The shares were acquired at an average cost of $304.19 per share, with a total value of $199,548.64. Following the transaction, the director now owns 62,857 shares in the company, valued at $19,120,470.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 41,857 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $329.05, for a total transaction of $13,773,045.85. Following the transaction, the insider now directly owns 104,161,953 shares in the company, valued at $34,274,490,634.65. The disclosure for this sale can be found here. Insiders have sold a total of 328,125 shares of company stock valued at $108,581,151 over the last three months. 0.12% of the stock is owned by company insiders.

Eli Lilly and Trading Up 4.9 %

Shares of LLY opened at $310.87 on Friday. The firm has a market cap of $295.38 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 1.92 and a beta of 0.38. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.85 and a current ratio of 1.10. Eli Lilly and Company has a fifty-two week low of $220.20 and a fifty-two week high of $335.33. The firm has a 50 day moving average price of $314.33 and a 200-day moving average price of $304.45.

Eli Lilly and (NYSE:LLYGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.61). Eli Lilly and had a return on equity of 85.58% and a net margin of 19.58%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same period in the previous year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Eli Lilly and Company will post 7.97 earnings per share for the current year.

Eli Lilly and Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, August 12th. Eli Lilly and’s payout ratio is 62.52%.

About Eli Lilly and

(Get Rating)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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

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