Herbst Group LLC Has $5.28 Million Position in Eli Lilly and Company (NYSE:LLY)

Herbst Group LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,263 shares of the company’s stock after selling 387 shares during the quarter. Eli Lilly and Company comprises about 3.6% of Herbst Group LLC’s portfolio, making the stock its 3rd biggest holding. Herbst Group LLC’s holdings in Eli Lilly and Company were worth $5,282,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Wellington Management Group LLP now owns 20,324,267 shares of the company’s stock worth $6,979,760,000 after acquiring an additional 314,349 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 14,867,424 shares of the company’s stock worth $5,094,159,000 after acquiring an additional 159,964 shares during the period. Morgan Stanley lifted its holdings in shares of Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after acquiring an additional 3,691,436 shares during the period. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $3,416,206,000. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 37,660 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $546,751.75, for a total value of $20,590,670,905.00. Following the completion of the transaction, the insider now directly owns 100,275,279 shares of the company’s stock, valued at $54,825,684,274,988.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the sale, the executive vice president now owns 7,760 shares in the company, valued at $4,586,004.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 37,660 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $546,751.75, for a total transaction of $20,590,670,905.00. Following the sale, the insider now owns 100,275,279 shares of the company’s stock, valued at approximately $54,825,684,274,988.30. The disclosure for this sale can be found here. Insiders sold a total of 976,153 shares of company stock valued at $21,080,192,113 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. HSBC initiated coverage on Eli Lilly and Company in a research report on Friday, July 14th. They set a “buy” rating and a $560.00 price objective for the company. UBS Group upped their price objective on Eli Lilly and Company from $447.00 to $498.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $630.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, September 5th. Credit Suisse Group increased their price objective on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, Citigroup increased their price objective on shares of Eli Lilly and Company from $360.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $532.78.

Eli Lilly and Company Stock Up 1.1 %

LLY stock traded up $6.43 during midday trading on Tuesday, reaching $577.71. 511,497 shares of the company’s stock traded hands, compared to its average volume of 3,022,557. The company has a market cap of $548.41 billion, a price-to-earnings ratio of 80.02, a P/E/G ratio of 2.37 and a beta of 0.32. The firm’s fifty day moving average price is $512.56 and its 200-day moving average price is $439.28. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. Eli Lilly and Company has a 52 week low of $296.32 and a 52 week high of $601.84.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.13. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the company posted $1.25 EPS. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 9.84 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were paid a $1.13 dividend. The ex-dividend date was Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is 62.87%.

About Eli Lilly and Company

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.