Aberdeen Group plc Sells 20,320 Shares of Eli Lilly and Company $LLY

Key Points

• Aberdeen Group plc reduced its stake in Eli Lilly and Company by 2.2%, now owning 893,856 shares valued at approximately $695 million.
• Institutional investors currently hold 82.53% of Eli Lilly's stock, with notable increases in holdings from firms like PNC Financial Services and Cohen Investment Advisors.
• Eli Lilly's recent earnings report showed a 37.6% increase in revenue compared to last year, with earnings per share reported at $6.31, exceeding analysts' expectations.

Aberdeen Group plc cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 893,856 shares of the company's stock after selling 20,320 shares during the quarter. Eli Lilly and Company comprises 1.2% of Aberdeen Group plc's portfolio, making the stock its 11th largest position. Aberdeen Group plc owned approximately 0.09% of Eli Lilly and Company worth $695,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. Nuveen LLC acquired a new stake in Eli Lilly and Company in the first quarter worth $4,613,912,000. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Cohen Investment Advisors LLC raised its holdings in Eli Lilly and Company by 7,975.5% in the first quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company's stock worth $647,225,000 after purchasing an additional 773,947 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Eli Lilly and Company by 106.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company's stock worth $1,154,508,000 after purchasing an additional 765,010 shares during the period. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David A. Ricks acquired 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gabrielle Sulzberger acquired 117 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 4,514 shares of company stock valued at $2,894,841 in the last quarter. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LLY shares. UBS Group cut their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 20th. Guggenheim raised their price objective on shares of Eli Lilly and Company from $875.00 to $948.00 and gave the stock a "buy" rating in a report on Wednesday. HSBC raised their price objective on shares of Eli Lilly and Company from $700.00 to $800.00 in a report on Wednesday, October 1st. Finally, Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $948.56.

Eli Lilly and Company Stock Down 2.6%

Eli Lilly and Company stock opened at $833.08 on Friday. The company has a market cap of $788.47 billion, a P/E ratio of 54.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.47. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $937.00. The company has a fifty day simple moving average of $742.42 and a 200 day simple moving average of $766.36. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

About Eli Lilly and Company

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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