Legacy Trust Buys 1,435 Shares of Eli Lilly and Company $LLY

Legacy Trust increased its stake in Eli Lilly and Company (NYSE:LLY) by 59.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,841 shares of the company’s stock after purchasing an additional 1,435 shares during the quarter. Legacy Trust’s holdings in Eli Lilly and Company were worth $4,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coastal Bridge Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $2,959,000. Birinyi Associates Inc. lifted its holdings in shares of Eli Lilly and Company by 32.6% in the third quarter. Birinyi Associates Inc. now owns 1,460 shares of the company’s stock valued at $1,689,000 after purchasing an additional 359 shares in the last quarter. Mosaic Family Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company by 70.6% in the second quarter. Mosaic Family Wealth Partners LLC now owns 3,455 shares of the company’s stock valued at $4,144,000 after purchasing an additional 1,430 shares in the last quarter. Canton Hathaway LLC boosted its position in shares of Eli Lilly and Company by 160.4% in the third quarter. Canton Hathaway LLC now owns 2,273 shares of the company’s stock worth $2,630,000 after buying an additional 1,400 shares during the period. Finally, Heritage Investors Management Corp boosted its position in shares of Eli Lilly and Company by 6.5% in the third quarter. Heritage Investors Management Corp now owns 11,774 shares of the company’s stock worth $13,624,000 after buying an additional 718 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company News Summary

Here’s some of the latest news about LLY:

• Positive Sentiment: China approved orforglipron, making Lilly the first company with an approved GLP-1 weight-loss pill in the country. The approval gives LLY a route into a large obesity-treatment market and a potential edge while rival oral treatments await regulatory decisions. Reuters article
• Positive Sentiment: A Phase 3b study found that combining Zepbound with Taltz improved and sustained outcomes in adults with psoriatic arthritis and obesity compared with Taltz alone. The results could support broader use of Lilly’s medicines in patients with both conditions. Phase 3b study announcement
• Negative Sentiment: Potential U.S. drug-price negotiations could pressure Lilly revenue, according to recent reporting. This policy risk may weigh on expectations even as the company expands its obesity portfolio. Drug-pricing risk report

Insider Transactions at Eli Lilly and Company

In other news, EVP Anat Hakim sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 4,137 shares of the company’s stock, valued at $5,802,225.24. This trade represents a 54.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the sale, the executive vice president owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. This represents a 10.72% 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 owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LLY. Truist Financial reissued a “buy” rating and set a $1,612.00 price target (up from $1,376.00) on shares of Eli Lilly and Company in a research report on Friday, October 30th. Scotiabank raised their price objective on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 30th. Cantor Fitzgerald raised their price objective on Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. China Merchants Securities cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Guggenheim increased their price target on shares of Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,416.64.

Eli Lilly and Company Trading Down 0.3%

Eli Lilly and Company stock opened at $1,433.34 on Friday. The company’s fifty day simple moving average is $1,236.58 and its 200-day simple moving average is $1,108.27. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17. Eli Lilly and Company has a 12 month low of $850.51 and a 12 month high of $1,460.00. The stock has a market cap of $1.35 trillion, a P/E ratio of 46.52, a P/E/G ratio of 1.72 and a beta of 0.40.

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

Eli Lilly and Company Announces Dividend

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 given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 13th. Eli Lilly and Company’s dividend payout ratio is presently 22.46%.

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.