Canandaigua National Bank & Trust Co. Grows Stock Position in Eli Lilly and Company $LLY

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in Eli Lilly and Company by 12.5%, reaching a total of 8,159 shares valued at $6.36 million.
• Eli Lilly reported earnings of $6.31 EPS, exceeding analyst expectations of $5.59, and achieved a revenue of $15.56 billion for the quarter, a 37.6% increase year-over-year.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00 and a yield of 0.8%.

Canandaigua National Bank & Trust Co. lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,159 shares of the company's stock after buying an additional 909 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Eli Lilly and Company were worth $6,360,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Hobbs Wealth Management LLC increased its holdings in Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after purchasing an additional 12 shares during the period. Hixon Zuercher LLC increased its holdings in Eli Lilly and Company by 0.7% during the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after purchasing an additional 12 shares during the period. O Brien Wealth Partners LLC increased its holdings in Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the period. Ascent Capital Management LLC increased its holdings in Eli Lilly and Company by 2.5% during the 1st quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock valued at $409,000 after purchasing an additional 12 shares during the period. Finally, Tennessee Valley Asset Management Partners increased its holdings in Eli Lilly and Company by 2.7% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 493 shares of the company's stock valued at $407,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LLY shares. Leerink Partners restated a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday, August 7th. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. DZ Bank raised Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Guggenheim cut their price objective on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $941.35.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $754.90 on Monday. 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 business's 50 day moving average price is $741.03 and its 200-day moving average price is $775.51. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $942.35. The stock has a market cap of $714.48 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.05 and a beta of 0.47.

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

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 15th. Eli Lilly and Company's payout ratio is presently 39.22%.

Insider Buying and Selling

In other news, CEO David A. Ricks acquired 1,632 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gabrielle Sulzberger acquired 117 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director owned 2,703 shares in the company, valued at $1,733,109.54. The trade was a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.

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