Cove Private Wealth LLC Invests $225,000 in Eli Lilly and Company $LLY

Cove Private Wealth LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 289 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors also recently bought and sold shares of LLY. PNC Financial Services Group Inc. lifted its stake in Eli Lilly and Company by 97.5% in 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 buying an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC lifted its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the period. Nuveen LLC purchased a new position in Eli Lilly and Company during the first quarter worth about $4,613,912,000. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Finally, Cohen Investment Advisors LLC raised its holdings in shares of Eli Lilly and Company by 7,975.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company’s stock valued at $647,225,000 after buying an additional 773,947 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other news, Director Jamere Jackson purchased 200 shares of the company’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the purchase, the director directly owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David A. Ricks acquired 1,632 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LLY. Daiwa Capital Markets lowered Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective for the company. in a research report on Sunday, August 17th. Guggenheim dropped their price objective on Eli Lilly and Company from $942.00 to $875.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. HSBC upgraded Eli Lilly and Company from a “reduce” rating to a “hold” rating and lifted their price target for the company from $675.00 to $700.00 in a report on Wednesday, August 27th. Leerink Partners reaffirmed a “market perform” rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $939.61.

Eli Lilly and Company Trading Up 1.4%

Shares of LLY opened at $724.73 on Friday. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $937.00. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a 50 day simple moving average of $734.15 and a 200-day simple moving average of $767.20. The stock has a market cap of $685.93 billion, a PE ratio of 47.37, a PEG ratio of 0.99 and a beta of 0.47.

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

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.