Eli Lilly and Company $LLY is Pinnacle West Asset Management Inc.’s 7th Largest Position

Pinnacle West Asset Management Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 0.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,408 shares of the company’s stock after selling 23 shares during the quarter. Eli Lilly and Company accounts for approximately 2.4% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 7th biggest position. Pinnacle West Asset Management Inc.’s holdings in Eli Lilly and Company were worth $3,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after purchasing an additional 40 shares during the last quarter. Covestor Ltd increased its position in shares of Eli Lilly and Company by 24.9% during the 1st quarter. Covestor Ltd now owns 426 shares of the company’s stock valued at $352,000 after purchasing an additional 85 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 18,000 shares of the company’s stock valued at $14,866,000 after purchasing an additional 3,696 shares during the last quarter. Finally, Arvest Investments Inc. increased its position in shares of Eli Lilly and Company by 19.9% during the 1st quarter. Arvest Investments Inc. now owns 1,085 shares of the company’s stock valued at $896,000 after purchasing an additional 180 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

LLY has been the subject of several research analyst reports. Hsbc Global Res raised Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eli Lilly and Company in a research report on Wednesday. UBS Group cut their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, DZ Bank upgraded Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $948.56.

Eli Lilly and Company Stock Down 2.6%

LLY stock opened at $833.08 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The company has a market capitalization of $788.47 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.19 and a beta of 0.47. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $937.00. The stock has a fifty day moving average of $742.42 and a 200-day moving average of $766.36.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the company earned $3.92 EPS. The firm’s revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

About Eli Lilly and Company

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.