Eli Lilly and Company $LLY Position Cut by First Command Advisory Services Inc.

First Command Advisory Services Inc. lessened its position in Eli Lilly and Company (NYSE:LLY) by 29.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,550 shares of the company’s stock after selling 645 shares during the period. First Command Advisory Services Inc.’s holdings in Eli Lilly and Company were worth $1,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Eli Lilly and Company by 1.6% during the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock worth $81,009,981,000 after acquiring an additional 1,046,558 shares in the last quarter. State Street Corp grew its stake in Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock valued at $43,438,262,000 after acquiring an additional 605,752 shares during the period. Bank of America Corp DE acquired a new position in Eli Lilly and Company in the second quarter valued at about $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eli Lilly and Company by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after acquiring an additional 137,364 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Eli Lilly and Company by 7.9% during the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock worth $6,550,587,000 after purchasing an additional 400,538 shares during the period. 82.53% of the stock is owned by institutional investors.

Latest Eli Lilly and Company News

These are some of the LLY news items that stood out recently:

• Positive Sentiment: Foundayo, Lilly’s GLP-1 weight-loss pill, was reported to have shown substantial improvement in sleep apnea, adding to the potential uses of the company’s obesity pipeline. Article: Foundayo and sleep apnea
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add a warning about rare NAION-related vision loss. Zepbound is among the medicines affected, creating a potential safety concern for Lilly’s key product category. Article: FDA warning on GLP-1 drugs
• Negative Sentiment: Possible new U.S. drug-price negotiations could put pressure on Lilly revenue, according to a report identifying the company as facing nearer-term pricing exposure. Article: Drug-pricing risks

Insider Buying and Selling

In related news, EVP Anat Hakim sold 5,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the transaction, the executive vice president owned 4,137 shares of the company’s stock, valued at approximately $5,802,225.24. This trade represents a 54.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the completion of the sale, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 0.4%

NYSE:LLY opened at $1,437.46 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. The company has a market cap of $1.35 trillion, a PE ratio of 46.66, a PEG ratio of 1.72 and a beta of 0.40. Eli Lilly and Company has a 52-week low of $850.51 and a 52-week high of $1,453.00. The stock has a 50-day simple moving average of $1,231.13 and a 200 day simple moving average of $1,106.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The business had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. During the same quarter last year, the firm earned $7.02 EPS. Eli Lilly and Company’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, sell-side analysts expect that Eli Lilly and Company will post 35.67 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a $1.73 dividend. The ex-dividend date is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.5%. Eli Lilly and Company’s dividend payout ratio (DPR) is 22.46%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LLY shares. Citigroup lifted their price objective on Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the company a “buy” rating in a report on Friday, October 30th. Scotiabank increased their target price on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 30th. Berenberg Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price target on the stock in a research note on Tuesday, September 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,450.00 price target on shares of Eli Lilly and Company in a report on Monday, October 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,413.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,416.64.

Eli Lilly and Company Profile

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.