Lombard Odier Asset Management Switzerland SA Sells 9,536 Shares of Eli Lilly and Company (NYSE:LLY)

Lombard Odier Asset Management Switzerland SA decreased its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,890 shares of the company’s stock after selling 9,536 shares during the period. Eli Lilly and Company comprises about 2.4% of Lombard Odier Asset Management Switzerland SA’s holdings, making the stock its 11th largest holding. Lombard Odier Asset Management Switzerland SA’s holdings in Eli Lilly and Company were worth $16,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Wellington Management Group LLP now owns 20,324,267 shares of the company’s stock valued at $6,979,760,000 after purchasing an additional 314,349 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Eli Lilly and Company by 533,336.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,059,681 shares of the company’s stock valued at $8,938,609,000 after acquiring an additional 19,056,108 shares during the period. Geode Capital Management LLC increased its position in Eli Lilly and Company by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,205,501 shares of the company’s stock valued at $7,111,568,000 after acquiring an additional 338,077 shares during the period. Morgan Stanley increased its position in Eli Lilly and Company by 44.1% in the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after acquiring an additional 3,691,436 shares during the period. Finally, Norges Bank acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $3,416,206,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. Bank of America upped their price target on shares of Eli Lilly and Company from $600.00 to $700.00 in a research report on Friday, October 6th. Barclays upped their price target on shares of Eli Lilly and Company from $500.00 to $590.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $565.00 to $633.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Morgan Stanley boosted their price objective on Eli Lilly and Company from $673.00 to $722.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Finally, UBS Group reissued a “buy” rating and issued a $710.00 price objective (up from $612.00) on shares of Eli Lilly and Company in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $559.08.

Check Out Our Latest Stock Report on LLY

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 215,000 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the completion of the transaction, the insider now directly owns 99,768,810 shares of the company’s stock, valued at $60,404,028,326.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 215,000 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the completion of the transaction, the insider now directly owns 99,768,810 shares of the company’s stock, valued at $60,404,028,326.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alonzo Weems sold 1,148 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total value of $678,445.04. Following the sale, the executive vice president now owns 7,760 shares in the company, valued at approximately $4,586,004.80. The disclosure for this sale can be found here. Insiders sold a total of 426,818 shares of company stock valued at $251,226,782 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $2.93 during trading on Friday, hitting $593.97. The company’s stock had a trading volume of 1,243,971 shares, compared to its average volume of 3,075,642. The company has a market cap of $563.86 billion, a PE ratio of 107.07, a P/E/G ratio of 3.60 and a beta of 0.33. The company has a current ratio of 1.05, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. The business has a fifty day moving average of $580.38 and a 200-day moving average of $519.01. Eli Lilly and Company has a 52 week low of $309.20 and a 52 week high of $629.97.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its earnings results on Thursday, November 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.18. The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Eli Lilly and Company had a return on equity of 48.12% and a net margin of 15.55%. As a group, research analysts anticipate that Eli Lilly and Company will post 6.62 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.

Eli Lilly and Company Company Profile

(Free Report)

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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