Adage Capital Partners GP L.L.C. Acquires 9,172 Shares of Eli Lilly and Company $LLY

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Eli Lilly by 1.3% during the first quarter, holding 741,722 shares valued at approximately $612.6 million.
• Several other institutional investors bolstered their positions in Eli Lilly, with WestEnd Advisors LLC boosting theirs by 210.0%, and overall institutional ownership now sits at 82.53%.
• Eli Lilly's recent earnings report showed a significant increase, with a revenue of $15.56 billion for the quarter, an increase of 37.6% compared to the same period last year.

Adage Capital Partners GP L.L.C. increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 741,722 shares of the company's stock after purchasing an additional 9,172 shares during the period. Eli Lilly and Company makes up approximately 1.1% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 13th largest holding. Adage Capital Partners GP L.L.C. owned about 0.08% of Eli Lilly and Company worth $612,596,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LLY. WestEnd Advisors LLC grew its stake in Eli Lilly and Company by 210.0% in 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 period. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the first quarter valued at about $27,000. Citizens National Bank Trust Department grew its stake in 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 valued at $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the first quarter valued at about $40,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at about $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky purchased 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on 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 transaction, 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 ninety days, insiders acquired 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Up 0.6%

Shares of LLY stock traded up $4.39 on Thursday, hitting $742.22. 2,419,935 shares of the stock were exchanged, compared to its average volume of 4,141,353. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $702.48 billion, a P/E ratio of 48.51, a price-to-earnings-growth ratio of 1.02 and a beta of 0.47. The business has a 50-day moving average of $745.91 and a 200 day moving average of $783.42. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $943.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the prior year, the firm earned $3.92 earnings per share. Eli Lilly and Company'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 analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend 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 39.22%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on 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. Daiwa Capital Markets cut Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price for the company. in a research note on Sunday, August 17th. DZ Bank raised Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen raised Eli Lilly and Company from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Finally, Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $950.17.

About Eli Lilly and Company

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.