Allspring Global Investments Holdings LLC Acquires 15,758 Shares of Eli Lilly and Company $LLY

Key Points

• Allspring Global Investments increased its Eli Lilly holdings by 5% in the third quarter, adding 15,758 shares to own 330,482 shares worth approximately $380 million.
• Institutional investors own 82.53% of Lilly’s shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $1,404.14.
• Lilly reported quarterly EPS of $7.48, beating the $5.71 estimate, while revenue rose 38.6% year over year to $24.40 billion. Price competition in the GLP-1 market remains a risk to growth and margins.

Allspring Global Investments Holdings LLC raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 330,482 shares of the company's stock after acquiring an additional 15,758 shares during the quarter. Eli Lilly and Company comprises 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 28th largest position. Allspring Global Investments Holdings LLC's holdings in Eli Lilly and Company were worth $380,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Torren Management LLC lifted its stake in Eli Lilly and Company by 357.1% in the third quarter. Torren Management LLC now owns 32 shares of the company's stock valued at $37,000 after buying an additional 25 shares during the period. Marshall & Sterling Wealth Advisors Inc. boosted its stake in Eli Lilly and Company by 60.0% during the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company's stock worth $37,000 after acquiring an additional 15 shares during the last quarter. Foresight Capital Management Advisors Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $49,000. AlphaCentric Advisors LLC acquired a new position in Eli Lilly and Company during the first quarter valued at approximately $42,000. Finally, Caitlin John LLC bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $64,000. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LLY shares. Bank of America reiterated a "buy" rating and issued a $1,497.00 target price on shares of Eli Lilly and Company in a report on Friday, October 30th. Leerink Partners boosted their price target on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the company an "outperform" rating in a report on Wednesday, October 21st. Royal Bank Of Canada upped their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an "outperform" rating in a research report on Friday, October 30th. Morgan Stanley raised their price objective on Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,404.14.

Insider Activity

In other news, EVP Patrik Jonsson sold 6,500 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 54,147 shares of the company's stock, valued at $63,628,139.70. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Anat Hakim sold 5,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the transaction, the executive vice president 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 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. Company insiders own 0.14% of the company's stock.

Trending Headlines about 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

Eli Lilly and Company Stock Up 1.3%

Shares of LLY stock opened at $1,372.15 on Monday. The firm has a fifty day moving average of $1,215.24 and a 200-day moving average of $1,101.16. 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 $1,453.00. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 1.62 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping analysts' consensus estimates of $5.71 by $1.77. The business had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The firm's quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the business posted $7.02 earnings per share. As a group, 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 company also recently announced 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 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company's dividend payout ratio is 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.

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

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