Investors Purchase Large Volume of Put Options on Eli Lilly and (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) was the target of some unusual options trading on Friday. Stock traders purchased 244 put options on the company. This is an increase of approximately 132% compared to the average volume of 105 put options.

A number of brokerages recently weighed in on LLY. UBS AG lowered Eli Lilly and to a “hold” rating and set a $85.00 price objective on the stock. in a report on Wednesday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $100.00 price objective on shares of Eli Lilly and in a report on Monday, April 17th. Argus lowered Eli Lilly and from a “buy” rating to a “hold” rating and upped their price objective for the stock from $64.18 to $81.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and set a $93.00 price objective on shares of Eli Lilly and in a report on Thursday, June 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Eli Lilly and in a report on Sunday, May 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $88.37.

Shares of Eli Lilly and (LLY) traded up 0.10% during mid-day trading on Friday, hitting $83.10. The stock had a trading volume of 3,820,069 shares. Eli Lilly and has a 12-month low of $64.18 and a 12-month high of $86.72. The company has a 50 day moving average price of $82.91 and a 200 day moving average price of $81.37. The firm has a market cap of $87.85 billion, a P/E ratio of 35.96 and a beta of 0.35.

Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a return on equity of 28.50% and a net margin of 11.12%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. Equities analysts forecast that Eli Lilly and will post $4.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, August 11th. Eli Lilly and’s payout ratio is 90.04%.

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $84.43, for a total value of $17,730,300.00. Following the transaction, the insider now owns 124,265,804 shares of the company’s stock, valued at $10,491,761,831.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael J. Harrington sold 22,833 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the completion of the transaction, the vice president now directly owns 62,056 shares in the company, valued at approximately $4,962,618.32. The disclosure for this sale can be found here. In the last three months, insiders sold 474,733 shares of company stock worth $39,634,487. Corporate insiders own 0.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Joel Isaacson & Co. LLC boosted its position in shares of Eli Lilly and by 1.5% in the first quarter. Joel Isaacson & Co. LLC now owns 3,364 shares of the company’s stock worth $283,000 after buying an additional 50 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Eli Lilly and by 3.1% in the first quarter. Nisa Investment Advisors LLC now owns 324,377 shares of the company’s stock worth $27,280,000 after buying an additional 9,680 shares in the last quarter. Franklin Street Advisors Inc. NC acquired a new position in shares of Eli Lilly and during the first quarter worth $320,000. Washington Trust Bank increased its position in shares of Eli Lilly and by 92.8% in the first quarter. Washington Trust Bank now owns 10,369 shares of the company’s stock worth $872,000 after buying an additional 4,990 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in shares of Eli Lilly and during the fourth quarter worth $1,547,000. Institutional investors and hedge funds own 75.56% of the company’s stock.

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About Eli Lilly and

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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