Eli Lilly and Company $LLY Stake Lowered by Legacy Financial Independent Advisors LLC

Legacy Financial Independent Advisors LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 17.8% during the third quarter, HoldingsChannel reports. The fund owned 2,672 shares of the company’s stock after selling 579 shares during the quarter. Eli Lilly and Company comprises approximately 1.5% of Legacy Financial Independent Advisors LLC’s holdings, making the stock its 24th biggest position. Legacy Financial Independent Advisors LLC’s holdings in Eli Lilly and Company were worth $3,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Integrity Financial Corp WA grew its stake in Eli Lilly and Company by 1.3% in the second quarter. Integrity Financial Corp WA now owns 639 shares of the company’s stock valued at $767,000 after purchasing an additional 8 shares in the last quarter. LCM Capital Management Inc increased its position in Eli Lilly and Company by 3.3% in the 3rd quarter. LCM Capital Management Inc now owns 253 shares of the company’s stock worth $293,000 after purchasing an additional 8 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in shares of 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 worth $235,000 after purchasing an additional 8 shares in the last quarter. Financial Network Wealth Advisors LLC raised its stake in shares of 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 worth $175,000 after purchasing an additional 8 shares in the last quarter. Finally, Eads & Heald Wealth Management lifted its holdings in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Eads & Heald Wealth Management now owns 1,469 shares of the company’s stock valued at $1,700,000 after buying an additional 8 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.5%

Shares of LLY traded up $7.42 during trading hours on Friday, hitting $1,372.15. 3,802,992 shares of the company were exchanged, compared to its average volume of 2,624,130. The company has a market cap of $1.29 trillion, a PE ratio of 44.54, a PEG ratio of 1.77 and a beta of 0.40. The firm’s 50 day moving average is $1,215.24 and its 200-day moving average is $1,101.16. Eli Lilly and Company has a 52 week low of $850.51 and a 52 week high of $1,453.00. 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 (NYSE:LLY) last issued 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. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The business had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. During the same period last year, the business earned $7.02 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, equities research analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insider Activity

In other news, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction that occurred on 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 transaction, the executive vice president owned 54,147 shares of the company’s stock, valued at $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the business’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 sale, the executive vice president owned 4,137 shares of the company’s stock, valued at $5,802,225.24. The trade was a 54.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,500 shares of company stock valued at $17,020,770 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Key Stories Impacting Eli Lilly and Company

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

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

Analyst Upgrades and Downgrades

Several brokerages recently commented on LLY. HSBC boosted their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the company a “reduce” rating in a research note on Thursday, September 10th. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Scotiabank lifted their target price 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 note on Friday, October 30th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $1,450.00 price target on shares of Eli Lilly and Company in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,404.14.

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.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.