Synovus Financial Corp boosted its stake in Eli Lilly and Co (NYSE:LLY) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,733 shares of the company’s stock after purchasing an additional 3,091 shares during the quarter. Synovus Financial Corp’s holdings in Eli Lilly and were worth $16,840,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Gradient Investments LLC bought a new stake in Eli Lilly and in the fourth quarter valued at about $103,000. Acrospire Investment Management LLC grew its stake in Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after acquiring an additional 200 shares during the period. MPS Loria Financial Planners LLC acquired a new position in Eli Lilly and in the second quarter valued at about $128,000. San Francisco Sentry Investment Group CA acquired a new position in Eli Lilly and in the second quarter valued at about $129,000. Finally, Front Row Advisors LLC acquired a new position in Eli Lilly and in the fourth quarter valued at about $137,000. Institutional investors and hedge funds own 75.71% of the company’s stock.
Shares of Eli Lilly and Co (LLY) opened at $78.97 on Monday. Eli Lilly and Co has a twelve month low of $73.69 and a twelve month high of $89.09. The stock has a market capitalization of $86,950.00, a PE ratio of 49.05, a P/E/G ratio of 1.47 and a beta of 0.23. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Thursday, February 15th will be issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.52. Eli Lilly and’s dividend payout ratio is presently 139.75%.
A number of research analysts have issued reports on LLY shares. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Thursday, October 26th. Morgan Stanley upped their price objective on Eli Lilly and from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. BMO Capital Markets set a $73.00 price objective on Eli Lilly and and gave the stock a “sell” rating in a research report on Wednesday, November 1st. Berenberg Bank reaffirmed a “buy” rating and set a $98.00 price objective on shares of Eli Lilly and in a research report on Thursday, October 26th. Finally, Goldman Sachs Group cut Eli Lilly and from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $86.98 to $95.00 in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $92.02.
In other Eli Lilly and news, insider Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $81.09, for a total value of $72,981.00. Following the sale, the insider now owns 4,130 shares in the company, valued at $334,901.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Susan Mahony sold 36,585 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $86.18, for a total value of $3,152,895.30. Following the completion of the sale, the senior vice president now owns 54,885 shares in the company, valued at approximately $4,729,989.30. The disclosure for this sale can be found here. Insiders have sold 259,610 shares of company stock worth $22,727,406 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.
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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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