Comerica Bank Reduces Stake in Eli Lilly and Company $LLY

Key Points

• Comerica Bank reduced its stake in Eli Lilly and Company by 0.2%, now holding approximately 1.5 million shares worth over $1.2 billion, which constitutes about 5.2% of its total holdings.
• Insiders have been active, with EVP Daniel Skovronsky purchasing 1,000 shares for $634.40 each, representing a 0.73% increase in his position.
• Eli Lilly reported earnings of $6.31 per share for the last quarter, exceeding analyst estimates by $0.72 and indicating a 37.6% year-over-year revenue increase.

Comerica Bank cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,501,080 shares of the company's stock after selling 2,583 shares during the quarter. Eli Lilly and Company makes up about 5.2% of Comerica Bank's holdings, making the stock its biggest position. Comerica Bank owned approximately 0.16% of Eli Lilly and Company worth $1,239,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. WestEnd Advisors LLC increased its position in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $43,000. Finally, O Brien Wealth Partners LLC grew its position in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Transactions at Eli Lilly and Company

In other news, EVP Daniel Skovronsky purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the acquisition, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director J Erik Fyrwald acquired 1,565 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the transaction, the director directly owned 74,578 shares of the company's stock, valued at $47,903,686.74. This represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $710.7290 on Friday. The business's fifty day moving average is $754.70 and its 200 day moving average is $790.53. The firm has a market cap of $672.67 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 0.99 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating 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 business had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the firm earned $3.92 EPS. The company's quarterly revenue 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. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company's dividend payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Daiwa Capital Markets downgraded Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target for the company. in a research note on Sunday, August 17th. UBS Group decreased their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Daiwa America downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average price target of $950.17.

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.

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