The Eli Lilly and Company (LLY) Stake Maintained by Cullen Capital Management LLC, Report finds

The Eli Lilly and Company (LLY) Stake Maintained by Cullen Capital Management LLC, Report finds

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Eli Lilly and Company by 111.4% in the third quarter. Wells Fargo & Company MN now owns 3,763,125 shares of the company’s stock valued at $302,027,000 after buying an additional 1,983,356 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $152,910,000. TIAA CREF Investment Management LLC boosted its stake in Eli Lilly and Company by 24.9% in the third quarter. TIAA CREF Investment Management LLC now owns 6,531,903 shares of the company’s stock valued at $524,251,000 after buying an additional 1,302,546 shares during the period. Bank of New York Mellon Corp boosted its stake in Eli Lilly and Company by 6.9% in the third quarter. Bank of New York Mellon Corp now owns 15,164,215 shares of the company’s stock valued at $1,217,080,000 after buying an additional 984,404 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Eli Lilly and Company by 116.6% in the third quarter. Ameriprise Financial Inc. now owns 1,809,287 shares of the company’s stock valued at $145,108,000 after buying an additional 973,900 shares during the period. 75.15% of the stock is currently owned by institutional investors.

Cullen Capital Management LLC maintained its stake in Eli Lilly and Company (NYSE:LLY) during the third quarter, Holdings Channel reports. The institutional investor owned 699,555 shares of the company’s stock at the end of the third quarter. Eli Lilly and Company comprises about 1.9% of Cullen Capital Management LLC’s portfolio, making the stock its 27th largest position. Cullen Capital Management LLC’s holdings in Eli Lilly and Company were worth $56,146,000 at the end of the most recent reporting period.

Eli Lilly and Company (NYSE:LLY) opened at 77.27 on Monday. The firm’s 50-day moving average price is $75.99 and its 200 day moving average price is $76.79. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $83.79. The stock has a market cap of $82.84 billion, a PE ratio of 29.97 and a beta of 0.30.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, January 31st. The company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by $0.03. Eli Lilly and Company had a return on equity of 24.74% and a net margin of 12.90%. The company earned $5.76 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post $4.10 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 15th will be paid a $0.52 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, February 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.67%. Eli Lilly and Company’s dividend payout ratio is presently 79.07%.

LLY has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) raised Eli Lilly and Company from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, December 15th. Morgan Stanley set a $73.00 target price on Eli Lilly and Company and gave the company a “hold” rating in a report on Thursday, November 24th. Zacks Investment Research downgraded Eli Lilly and Company from a “hold” rating to a “sell” rating in a report on Monday, December 5th. Credit Suisse Group reissued a “focus list” rating and issued a $87.00 target price on shares of Eli Lilly and Company in a report on Monday, December 19th. Finally, Vetr downgraded Eli Lilly and Company from a “hold” rating to a “sell” rating and set a $74.30 target price on the stock. in a report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Eli Lilly and Company presently has a consensus rating of “Buy” and an average target price of $86.41.

In related news, Director R David Hoover bought 500 shares of the stock in a transaction dated Friday, December 16th. The shares were purchased at an average price of $71.85 per share, for a total transaction of $35,925.00. Following the completion of the purchase, the director now directly owns 33,504 shares of the company’s stock, valued at $2,407,262.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Alfonso G. Zulueta sold 15,000 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $77.66, for a total value of $1,164,900.00. Following the completion of the sale, the senior vice president now owns 45,583 shares in the company, valued at approximately $3,539,975.78. The disclosure for this sale can be found here. Insiders sold 470,497 shares of company stock worth $35,358,665 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Eli Lilly and Company 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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