Abacus Planning Group Inc. Sells 2,098 Shares of Eli Lilly and Company $LLY

Key Points

• Abacus Planning Group Inc. significantly reduced its stake in Eli Lilly and Company by 84.3%, selling 2,098 shares and holding only 390 shares worth $304,000 as of the latest SEC filing.
• Analyst ratings for Eli Lilly range with one Strong Buy, 14 Buy, and nine Hold ratings, with an average price target of $939.61, despite fluctuating price objectives from various research firms.
• Insiders, including Director Jamere Jackson and CEO David A. Ricks, have been actively buying shares, indicating confidence in the company's future, with total insider purchases in the last quarter valued at approximately $2.89 million.

Abacus Planning Group Inc. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 84.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390 shares of the company's stock after selling 2,098 shares during the quarter. Abacus Planning Group Inc.'s holdings in Eli Lilly and Company were worth $304,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Occidental Asset Management LLC increased its stake in Eli Lilly and Company by 0.7% during the second quarter. Occidental Asset Management LLC now owns 1,966 shares of the company's stock worth $1,533,000 after acquiring an additional 13 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in Eli Lilly and Company by 38.7% during the second quarter. CHICAGO TRUST Co NA now owns 8,555 shares of the company's stock worth $6,669,000 after acquiring an additional 2,389 shares during the last quarter. Opal Wealth Advisors LLC increased its stake in Eli Lilly and Company by 23.7% during the second quarter. Opal Wealth Advisors LLC now owns 1,191 shares of the company's stock worth $928,000 after acquiring an additional 228 shares during the last quarter. Golden State Equity Partners increased its stake in Eli Lilly and Company by 23.1% during the second quarter. Golden State Equity Partners now owns 3,104 shares of the company's stock worth $2,420,000 after acquiring an additional 582 shares during the last quarter. Finally, Cherrydale Wealth Management LLC increased its stake in Eli Lilly and Company by 2.7% during the second quarter. Cherrydale Wealth Management LLC now owns 755 shares of the company's stock worth $588,000 after acquiring an additional 20 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LLY. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Leerink Partnrs lowered 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 reduced their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Cantor Fitzgerald reduced their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $939.61.

Insider Buying and Selling

In other news, Director Jamere Jackson bought 200 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David A. Ricks bought 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer owned 546,601 shares of the company's stock, valued at $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 4,514 shares of company stock valued at $2,894,841 over the last quarter. Insiders own 0.14% of the company's stock.

Eli Lilly and Company Price Performance

NYSE LLY opened at $755.32 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The firm's 50 day moving average price is $737.49 and its 200-day moving average price is $769.01. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $939.30. The company has a market cap of $714.88 billion, a PE ratio of 49.37, a P/E/G ratio of 1.05 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the firm earned $3.92 earnings per share. The company's quarterly 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 forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and 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.

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