Ballentine Partners LLC Sells 369 Shares of Eli Lilly and Company $LLY

Key Points

• Ballentine Partners LLC reduced its stake in Eli Lilly and Company by 2.1%, now holding 17,584 shares worth approximately $13.7 million after selling 369 shares.
• Institutional investors currently own 82.53% of Eli Lilly's stock, with notable increases from PNC Financial Services Group, GAMMA Investing, and others during the first quarter of 2023.
• Analysts have adjusted price targets for Eli Lilly, with Cantor Fitzgerald lowering their target from $975 to $825, while HSBC upgraded their target from $675 to $700, indicating varying market expectations.

Ballentine Partners LLC cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,584 shares of the company's stock after selling 369 shares during the period. Ballentine Partners LLC's holdings in Eli Lilly and Company were worth $13,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $4,613,912,000. Vanguard Group Inc. raised its holdings in shares of 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 valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. Finally, Cohen Investment Advisors LLC increased its holdings in Eli Lilly and Company by 7,975.5% during the first quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company's stock worth $647,225,000 after buying an additional 773,947 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald lowered their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. HSBC upgraded shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and boosted their target price for the stock from $675.00 to $700.00 in a report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday, August 11th. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Leerink Partners restated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. One 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 company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average price target of $939.61.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $747.29 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $707.27 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.05 and a beta of 0.47. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $939.30. The firm has a 50-day moving average price of $736.98 and a two-hundred day moving average price of $768.86.

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

Insider Buying and Selling

In other news, Director Gabrielle Sulzberger bought 117 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the acquisition, the director directly owned 2,703 shares in the company, valued at $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jamere Jackson bought 200 shares of the company's stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the transaction, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. 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 ninety days. Insiders own 0.14% of the company's stock.

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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