Proffitt & Goodson Inc. Grows Stock Holdings in Eli Lilly and Company $LLY

Proffitt & Goodson Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2,021.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 700 shares of the company’s stock after purchasing an additional 667 shares during the period. Proffitt & Goodson Inc.’s holdings in Eli Lilly and Company were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Eli Lilly and Company by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $4,613,912,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY opened at $844.30 on Wednesday. The firm has a market cap of $799.09 billion, a P/E ratio of 55.18, a PEG ratio of 1.18 and a beta of 0.47. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $937.00. The company has a 50 day simple moving average of $736.97 and a two-hundred day simple moving average of $766.03. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company’s revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David A. Ricks bought 1,632 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares in the company, valued at $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gabrielle Sulzberger bought 117 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director owned 2,703 shares of the company’s stock, valued at $1,733,109.54. The trade was a 4.52% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,514 shares of company stock valued at $2,894,841. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LLY. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a report on Monday, August 11th. Cantor Fitzgerald reduced their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. Daiwa America cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Sunday, August 17th. Leerink Partners reaffirmed a “market perform” rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an “overweight” rating for the company in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $938.94.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company 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; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.