Granite Group Advisors LLC Cuts Stock Holdings in Eli Lilly and Company $LLY

Granite Group Advisors LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 23.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 299 shares of the company’s stock after selling 90 shares during the period. Granite Group Advisors LLC’s holdings in Eli Lilly and Company were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ritholtz Wealth Management boosted its holdings in Eli Lilly and Company by 5.1% during the 2nd quarter. Ritholtz Wealth Management now owns 22,139 shares of the company’s stock valued at $17,258,000 after acquiring an additional 1,065 shares during the period. Curated Wealth Partners LLC increased its stake in Eli Lilly and Company by 17.1% in the 2nd quarter. Curated Wealth Partners LLC now owns 540 shares of the company’s stock worth $421,000 after purchasing an additional 79 shares during the period. Harbour Investments Inc. lifted its position in Eli Lilly and Company by 24.0% in the second quarter. Harbour Investments Inc. now owns 15,858 shares of the company’s stock valued at $12,362,000 after purchasing an additional 3,074 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Eli Lilly and Company by 2.7% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,314 shares of the company’s stock worth $4,143,000 after purchasing an additional 140 shares during the last quarter. Finally, Aries Wealth Management grew its holdings in shares of Eli Lilly and Company by 0.9% in the second quarter. Aries Wealth Management now owns 4,110 shares of the company’s stock worth $3,204,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel Skovronsky acquired 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares of the company’s stock, valued at $87,331,504. This represents a 0.73% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the transaction, the director directly owned 9,402 shares in the company, valued at approximately $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 bought 4,514 shares of company stock valued at $2,894,841 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LLY. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Tuesday. Leerink Partnrs cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a report on Monday, August 11th. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $876.00 to $879.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, DZ Bank raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $948.06.

Eli Lilly and Company Trading Down 0.8%

Shares of LLY opened at $812.65 on Wednesday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $935.63. 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 firm’s 50-day moving average price is $744.36 and its 200-day moving average price is $765.86. The firm has a market capitalization of $769.14 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.17 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the prior year, the firm earned $3.92 earnings per share. Eli Lilly and Company’s revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company 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.