Eli Lilly and Company $LLY Shares Acquired by StrongBox Wealth LLC

Key Points

• StrongBox Wealth increased its Eli Lilly stake by 20.1% in the third quarter, adding 1,130 shares to hold 6,761 shares valued at about $7.8 million.
• Lilly beat quarterly earnings expectations, reporting EPS of $7.48 versus $5.71 expected and revenue of $24.4 billion, up 38.6% year over year.
• Analyst sentiment remains broadly positive, and recent trial results bolstered Lilly’s obesity-drug prospects; however, growing GLP-1 price competition could weigh on future growth.

StrongBox Wealth LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 20.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,761 shares of the company's stock after acquiring an additional 1,130 shares during the period. Eli Lilly and Company accounts for 2.1% of StrongBox Wealth LLC's holdings, making the stock its 17th biggest position. StrongBox Wealth LLC's holdings in Eli Lilly and Company were worth $7,824,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Eli Lilly and Company by 1.6% in the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company's stock valued at $81,009,981,000 after purchasing an additional 1,046,558 shares during the last quarter. State Street Corp raised its position in shares of Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company's stock valued at $43,438,262,000 after purchasing an additional 605,752 shares during the period. Bank of America Corp DE bought a new position in shares of Eli Lilly and Company in the second quarter valued at about $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eli Lilly and Company by 1.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company's stock worth $8,647,153,000 after buying an additional 137,364 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Eli Lilly and Company by 7.9% during the 2nd quarter. Jennison Associates LLC now owns 5,461,416 shares of the company's stock worth $6,550,587,000 after buying an additional 400,538 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 3.5%

LLY stock opened at $1,368.85 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 44.43, a PEG ratio of 1.77 and a beta of 0.40. The business's fifty day moving average price is $1,211.30 and its two-hundred day moving average price is $1,099.50. Eli Lilly and Company has a fifty-two week low of $850.51 and a fifty-two week high of $1,453.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.71 by $1.77. The company had revenue of $24.40 billion during the quarter, compared to analysts' expectations of $22.58 billion. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. Eli Lilly and Company's quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.02 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 35.70 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 13th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 22.46%.

Analysts Set New Price Targets

Several brokerages recently commented on LLY. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,650.00 target price on shares of Eli Lilly and Company in a report on Friday, October 30th. HSBC increased their price target on shares of Eli Lilly and Company from $850.00 to $940.00 and gave the company a "reduce" rating in a report on Thursday, September 10th. Morgan Stanley raised their price objective on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Argus raised their price objective on shares of Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Finally, UBS Group boosted their price objective on Eli Lilly and Company from $1,425.00 to $1,625.00 and gave the stock a "buy" rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average price target of $1,404.14.

Eli Lilly and Company News Roundup

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Lilly reported encouraging Phase 3 results for investigational retatrutide in people with knee osteoarthritis and obesity, including substantial weight and knee-pain reductions. New data also showed benefits from combining Zepbound with Taltz in adults with psoriatic arthritis and obesity, supporting the potential of Lilly’s obesity franchise across additional conditions. Lilly ACR Convergence data
• Positive Sentiment: Recent earnings momentum remains a support: Lilly beat Q3 estimates and raised its outlook, reinforcing expectations for strong demand for its medicines. Commentary also presents LLY as a potential defensive holding amid the technology selloff, which could attract investors seeking growth outside tech. LLY as a potential safe haven
• Negative Sentiment: Investors are also watching growing price competition in the GLP-1 market. Lower realized prices could temper the revenue and profit growth investors expect from Lilly’s highly valued obesity-drug business. GLP-1 price competition

Insiders Place Their Bets

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the sale, the executive vice president owned 54,147 shares of the company's stock, valued at $63,628,139.70. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the transaction, the executive vice president owned 4,137 shares in the company, valued at approximately $5,802,225.24. The trade was a 54.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,500 shares of company stock worth $17,020,770 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Company Profile

Eli Lilly and Company NYSE: LLY is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company's portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer's disease.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.