Bernard Wealth Management Corp. Sells 989 Shares of Eli Lilly and Company $LLY

Key Points

• Bernard Wealth Management Corp. sold 989 shares of Eli Lilly, reducing its stake by 9% and maintaining ownership of 9,991 shares, which represent 3.6% of its investment portfolio.
• The company's earnings results showed a significant increase in revenue to $15.56 billion for the quarter, exceeding analyst estimates and reflecting a 37.6% year-over-year growth.
• Research analysts have mixed ratings on Eli Lilly, with targets ranging from $700 to $925, and a consensus average price target of $948.56 indicating a "Moderate Buy" rating.

Bernard Wealth Management Corp. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,991 shares of the company's stock after selling 989 shares during the quarter. Eli Lilly and Company accounts for 3.6% of Bernard Wealth Management Corp.'s investment portfolio, making the stock its 7th biggest position. Bernard Wealth Management Corp.'s holdings in Eli Lilly and Company were worth $7,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. WestEnd Advisors LLC lifted its stake in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Eli Lilly and Company in the first quarter worth about $27,000. Citizens National Bank Trust Department lifted its stake in shares of Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company in the first quarter worth about $40,000. Finally, TD Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 129.2% in the first quarter. TD Capital Management LLC now owns 55 shares of the company's stock worth $46,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson bought 200 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director owned 9,402 shares of the company's stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the acquisition, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. The trade was a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 2.6%

NYSE:LLY opened at $833.08 on Friday. The firm has a market capitalization of $788.47 billion, a PE ratio of 54.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.47. The stock has a 50 day moving average of $742.42 and a 200-day moving average of $766.36. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $937.00. 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 posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business's revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald set a $925.00 price target on Eli Lilly and Company and gave the stock an "overweight" rating in a research note on Thursday. Daiwa Capital Markets cut Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target on the stock. in a research note on Sunday, August 17th. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, HSBC upped their price objective on Eli Lilly and Company from $700.00 to $800.00 in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus target price of $948.56.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.