Eastern Bank Boosts Holdings in Eli Lilly and Company $LLY

Key Points

• Eastern Bank increased its holdings in Eli Lilly by 14.1% during the second quarter, owning a total of 123,674 shares valued at approximately $96.4 million.
• Analysts show a mixed outlook for Eli Lilly, with target prices ranging from $700.00 to $1,010.00 and an average target price of $948.56.
• In the last three months, insiders have purchased a total of 4,514 shares of Eli Lilly stock, reflecting confidence in the company's future performance.

Eastern Bank boosted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,674 shares of the company's stock after buying an additional 15,293 shares during the quarter. Eli Lilly and Company accounts for approximately 1.8% of Eastern Bank's investment portfolio, making the stock its 14th largest position. Eastern Bank's holdings in Eli Lilly and Company were worth $96,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company during the first quarter worth $27,000. Citizens National Bank Trust Department boosted its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company during the first quarter valued at $40,000. Finally, TD Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 129.2% during the first quarter. TD Capital Management LLC now owns 55 shares of the company's stock valued at $46,000 after purchasing an additional 31 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LLY shares. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research note 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 for the company in a research note on Monday, August 11th. Morgan Stanley lowered their target price on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price objective for the company. in a research note on Sunday, August 17th. Finally, Daiwa America lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $948.56.

Eli Lilly and Company Stock Down 2.6%

NYSE:LLY opened at $833.08 on Friday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $937.00. The company has a 50-day moving average of $742.42 and a 200 day moving average of $766.36. The firm has a market cap 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 company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

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 analysts' consensus estimates of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director J Erik Fyrwald bought 1,565 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares of the company's stock, valued at $47,903,686.74. This trade represents a 2.14% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction on 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 acquisition, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 in the last three months. 0.13% of the stock is currently owned by 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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