Alta Advisers Ltd Purchases 2,618 Shares of Eli Lilly and Company $LLY

Key Points

• Alta Advisers increased its Eli Lilly stake by 85% in the third quarter, buying 2,618 shares to hold 5,697 shares valued at $6.59 million.
• Eli Lilly reported quarterly earnings of $7.48 per share, beating the $5.71 consensus estimate, while revenue rose 38.6% year over year to $24.4 billion.
• Insiders sold 13,500 shares worth about $17.0 million over the past 90 days; institutional investors and hedge funds own 82.53% of the stock.

Alta Advisers Ltd grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 85.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,697 shares of the company's stock after buying an additional 2,618 shares during the quarter. Eli Lilly and Company accounts for approximately 0.9% of Alta Advisers Ltd's portfolio, making the stock its 17th biggest position. Alta Advisers Ltd's holdings in Eli Lilly and Company were worth $6,592,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LLY. Marshall & Sterling Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 60.0% during the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company's stock valued at $37,000 after purchasing an additional 15 shares during the period. Torren Management LLC increased its position in shares of 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 acquiring an additional 25 shares during the period. AlphaCentric Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $42,000. Foresight Capital Management Advisors Inc. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $49,000. Finally, Caitlin John LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth $64,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Donald Zakrowski sold 2,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the transaction, the chief accounting officer owned 1,526 shares in the company, valued at approximately $1,808,325.26. This represents a 56.72% decrease in their position. The sale was disclosed in a 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 the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the sale, the executive vice president owned 4,137 shares in the company, 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 in the last 90 days. 0.14% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $1,372.15 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 44.54, a P/E/G ratio of 1.77 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $850.51 and a twelve month high of $1,453.00. The company has a fifty day moving average of $1,215.24 and a 200-day moving average of $1,101.16.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $24.40 billion during the quarter, compared to analyst estimates of $22.58 billion. During the same period in the previous year, the business earned $7.02 EPS. The firm's revenue for the quarter was up 38.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 35.70 EPS for the current year.

Eli Lilly and Company Announces Dividend

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

Key Headlines 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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LLY shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,650.00 target price on shares of Eli Lilly and Company in a research note on Friday, October 30th. Guggenheim raised their price target on shares of Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the company a "buy" rating in a research note on Friday, September 18th. Berenberg Bank upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating and set a $1,400.00 price target on the stock in a research report on Tuesday, September 15th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. One 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,404.14.

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.

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

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.