Eli Lilly and Company $LLY Shares Purchased by Independence Bank of Kentucky

Key Points

• Independence Bank of Kentucky increased its stake in Eli Lilly and Company by 24.2%, owning 10,328 shares valued at approximately $8.05 million.
• Eli Lilly reported $6.31 EPS for the latest quarter, exceeding analysts' expectations, with revenue reaching $15.56 billion, a year-over-year increase of 37.6%.
• Currently, 82.53% of Eli Lilly's stock is held by institutional investors and hedge funds, reflecting strong institutional interest in the company.

Independence Bank of Kentucky lifted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 24.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,328 shares of the company's stock after purchasing an additional 2,011 shares during the period. Eli Lilly and Company comprises about 1.1% of Independence Bank of Kentucky's portfolio, making the stock its 13th biggest holding. Independence Bank of Kentucky's holdings in Eli Lilly and Company were worth $8,051,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LLY. Brighton Jones LLC raised its position in Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC raised its position in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after acquiring an additional 40 shares during the period. Ables Iannone Moore & Associates Inc. raised its position in Eli Lilly and Company by 10.4% during the first quarter. Ables Iannone Moore & Associates Inc. now owns 1,286 shares of the company's stock worth $1,062,000 after acquiring an additional 121 shares during the period. Cerro Pacific Wealth Advisors LLC raised its position in Eli Lilly and Company by 2.2% during the first quarter. Cerro Pacific Wealth Advisors LLC now owns 3,319 shares of the company's stock worth $2,562,000 after acquiring an additional 71 shares during the period. Finally, Peoples Bank KS acquired a new position in Eli Lilly and Company during the first quarter worth $204,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 1.4%

Shares of LLY opened at $724.73 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $937.00. The firm has a 50-day moving average price of $734.15 and a 200 day moving average price of $766.60. The firm has a market capitalization of $685.93 billion, a P/E ratio of 47.37, a P/E/G ratio of 1.01 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the firm posted $3.92 earnings per share. Eli Lilly and Company's quarterly revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Leerink Partners restated a "market perform" rating and set a $715.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Cantor Fitzgerald dropped their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. HSBC raised shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and upped their target price for the stock from $675.00 to $700.00 in a report on Wednesday, August 27th. JPMorgan Chase & Co. dropped their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, August 11th. 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 company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $939.61.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson bought 200 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This represents a 2.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Erik Fyrwald bought 1,565 shares of the stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 4,514 shares of company stock valued at $2,894,841 over the last quarter. 0.14% of the stock is owned by insiders.

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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