Eli Lilly and Company $LLY Stock: Ritholtz Wealth Management Boosts Position

Ritholtz Wealth Management grew its holdings in Eli Lilly and Company (NYSE:LLY) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,254 shares of the company’s stock after buying an additional 834 shares during the quarter. Ritholtz Wealth Management’s holdings in Eli Lilly and Company were worth $26,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LLY. Integrity Financial Corp WA boosted its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Integrity Financial Corp WA now owns 639 shares of the company’s stock worth $767,000 after buying an additional 8 shares during the period. LCM Capital Management Inc raised its holdings in Eli Lilly and Company by 3.3% during the 3rd quarter. LCM Capital Management Inc now owns 253 shares of the company’s stock valued at $293,000 after acquiring an additional 8 shares during the period. Smith Shellnut Wilson LLC ADV raised its holdings in Eli Lilly and Company by 4.1% during the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 203 shares of the company’s stock valued at $235,000 after acquiring an additional 8 shares during the period. Financial Network Wealth Advisors LLC raised its holdings in Eli Lilly and Company by 5.6% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 151 shares of the company’s stock valued at $175,000 after acquiring an additional 8 shares during the period. Finally, Eads & Heald Wealth Management lifted its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Eads & Heald Wealth Management now owns 1,469 shares of the company’s stock worth $1,700,000 after acquiring an additional 8 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Top Eli Lilly and Company Stories

Investors following LLY have been watching these stories:

• Positive Sentiment: Lilly reported positive 52-week Phase 3b results for Taltz plus Zepbound in adults with psoriatic arthritis and obesity. Nearly three times as many combination-treatment patients achieved at least a 50% reduction in disease activity versus Taltz alone, potentially broadening Zepbound’s use and commercial opportunity. Article: Phase 3b Taltz and Zepbound results
• 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: 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

Eli Lilly and Company Trading Up 0.4%

Eli Lilly and Company stock 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. Eli Lilly and Company has a fifty-two week low of $850.51 and a fifty-two week high of $1,453.00. The stock has a market cap of $1.35 trillion, a P/E ratio of 46.66, a PEG ratio of 1.72 and a beta of 0.40. The firm’s fifty day moving average price is $1,231.13 and its 200-day moving average price is $1,106.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $24.40 billion during the quarter, compared to analyst estimates of $22.58 billion. During the same quarter last year, the company earned $7.02 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 35.67 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on LLY. HSBC raised their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the stock a “reduce” rating in a report on Thursday, September 10th. Argus boosted their price objective on Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Truist Financial reaffirmed a “buy” rating and set a $1,612.00 target price (up from $1,376.00) on shares of Eli Lilly and Company in a report on Friday, October 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,450.00 target price on shares of Eli Lilly and Company in a report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,416.64.

Insider Activity

In other news, EVP Patrik Jonsson sold 6,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the completion of the transaction, the executive vice president owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred 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 owned 4,137 shares in the company, valued at approximately $5,802,225.24. This trade represents a 54.72% 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 currently owned by insiders.

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.