Eli Lilly and Company $LLY Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 745,489 shares of the company’s stock after selling 36,440 shares during the period. Eli Lilly and Company comprises about 0.8% of Russell Investments Group Ltd.’s holdings, making the stock its 13th biggest holding. Russell Investments Group Ltd. owned 0.08% of Eli Lilly and Company worth $864,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its stake in Eli Lilly and Company by 1.6% during the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock valued at $81,009,981,000 after buying an additional 1,046,558 shares in the last quarter. State Street Corp boosted its holdings in shares of Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock worth $43,438,262,000 after buying an additional 605,752 shares during the period. Bank of America Corp DE purchased a new position in shares of Eli Lilly and Company in the second quarter worth approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eli Lilly and Company by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after acquiring an additional 137,364 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Eli Lilly and Company by 7.9% during the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock valued at $6,550,587,000 after acquiring an additional 400,538 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, EVP Patrik Jonsson sold 6,500 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 54,147 shares in the company, valued at approximately $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Eli Lilly and Company stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the sale, the executive vice president directly owned 4,137 shares of the company’s stock, valued at approximately $5,802,225.24. The trade was a 54.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.14% of the company’s stock.

Recent Eli Lilly and Company Headlines

These are some of the LLY headlines that stood out recently:

• 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: New trial coverage points to broader potential for Lilly’s GLP-1 medicines: orforglipron reportedly showed promise for osteoarthritic knee pain, and Foundayo data indicated improvement in sleep apnea. These possible benefits could expand the drugs’ addressable markets, but further development and evidence remain important. Trial results coverage
• Neutral Sentiment: Lilly’s obesity collaboration with Fauna Bio designated a second discovery target using AI-based research. It adds to the early-stage pipeline, but any commercial impact is uncertain and likely years away. Fauna Bio announcement

Eli Lilly and Company Price Performance

NYSE LLY opened at $1,433.34 on Friday. The company has a 50 day simple moving average of $1,236.58 and a 200-day simple moving average of $1,108.27. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 1.72 and a beta of 0.40. Eli Lilly and Company has a 52-week low of $850.51 and a 52-week high of $1,460.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $22.58 billion. During the same period last year, the company posted $7.02 earnings per share. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities research analysts predict that Eli Lilly and Company will post 35.70 earnings per share 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. Stockholders 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 dividend yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company’s payout ratio is currently 22.46%.

Analysts Set New Price Targets

Several equities research analysts recently commented on LLY shares. The Goldman Sachs Group restated a “buy” rating and issued a $1,413.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, October 20th. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,450.00 target price on shares of Eli Lilly and Company in a research note on Monday, October 26th. Cantor Fitzgerald increased their target price on Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $1,612.00 target price (up from $1,376.00) on shares of Eli Lilly and Company in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,416.64.

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.