Eli Lilly and Company $LLY Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,410 shares of the company’s stock after selling 1,132 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Eli Lilly and Company were worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. increased its holdings in Eli Lilly and Company by 60.0% in the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock worth $37,000 after buying an additional 15 shares in the last quarter. Torren Management LLC raised its position in Eli Lilly and Company by 357.1% in the 3rd quarter. Torren Management LLC now owns 32 shares of the company’s stock worth $37,000 after buying an additional 25 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth about $42,000. Foresight Capital Management Advisors Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at about $49,000. Finally, Caitlin John LLC bought a new position in Eli Lilly and Company during the 2nd quarter valued at about $64,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company News Summary

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Foundayo met the primary endpoint in a Phase 3 trial for obstructive sleep apnea, reducing breathing interruptions by up to an average of 44%. Lilly plans to seek FDA approval for the additional use by year-end, which could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
• Positive Sentiment: Jefferies raised its price target to $1,700 and maintained a Buy rating, signaling continued analyst confidence in Lilly’s prospects. Jefferies price target
• Positive Sentiment: Lilly’s agreement with Hims & Hers and a similar arrangement with LifeMD expands digital access to its branded obesity medicines, including Zepbound and Foundayo. Hims’ share-price decline following its own disappointing results appears company-specific; coverage reported Lilly holding steady. Yahoo Finance article
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add warnings about a possible increased risk of NAION, a rare eye condition that can cause sudden, potentially permanent vision loss. The class-wide warning could raise safety concerns for patients and investors, though the condition is rare. CNBC article

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $1,650.00 price objective on shares of Eli Lilly and Company in a report on Friday, October 30th. Scotiabank increased their price objective on shares of Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the company a “sector outperform” rating in a research report on Friday, October 30th. Leerink Partners increased their price objective on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,413.00 target price on shares of Eli Lilly and Company in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,416.64.

Insider Activity at Eli Lilly and Company

In related news, 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 transaction, the executive vice president owned 54,147 shares in the company, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the completion of the transaction, the executive vice president directly owned 4,137 shares of the company’s stock, valued at $5,802,225.24. This represents a 54.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by insiders.

Eli Lilly and Company Stock Up 1.5%

LLY opened at $1,432.60 on Wednesday. The firm’s 50 day simple moving average is $1,225.57 and its two-hundred day simple moving average is $1,104.56. The company has a market capitalization of $1.35 trillion, a PE ratio of 46.50, a PEG ratio of 1.69 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $850.51 and a 1-year high of $1,453.00. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. The firm had revenue of $24.40 billion for the quarter, compared to analysts’ expectations of $22.58 billion. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $7.02 EPS. As a group, equities analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

About Eli Lilly and Company

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.