Eli Lilly and Company $LLY Stock Position Trimmed by Checchi Capital Advisers LLC

Key Points

• Checchi Capital Advisers LLC reduced its position in Eli Lilly by 3.6% during the 2nd quarter, holding 10,656 shares valued at approximately $8.3 million.
• Several hedge funds, such as WestEnd Advisors LLC and Citizens National Bank Trust Department, have increased their stakes in Eli Lilly significantly during the first quarter, with institutional investors now owning 82.53% of the company.
• Analysts have adjusted their price targets for Eli Lilly, with Morgan Stanley lowering its target to $1,023, while UBS Group reduced theirs to $895, reflecting changing market sentiments.

Checchi Capital Advisers LLC cut its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,656 shares of the company's stock after selling 403 shares during the quarter. Checchi Capital Advisers LLC's holdings in Eli Lilly and Company were worth $8,307,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. WestEnd Advisors LLC raised its stake 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 purchasing an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Eli Lilly and Company during the first quarter valued at about $27,000. Citizens National Bank Trust Department raised 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 worth $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $40,000. Finally, TD Capital Management LLC lifted its position in Eli Lilly and Company by 129.2% in the first quarter. TD Capital Management LLC now owns 55 shares of the company's stock worth $46,000 after purchasing an additional 31 shares during the period. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LLY. Morgan Stanley cut their target price on Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating for the company in a research report on Friday. Daiwa Capital Markets cut shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target on the stock. in a research report on Sunday, August 17th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eli Lilly and Company in a report on Saturday, September 27th. Cantor Fitzgerald dropped their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Finally, UBS Group dropped their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $938.94.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased 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 owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jamere Jackson purchased 200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the transaction, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 4,514 shares of company stock worth $2,894,841. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

NYSE LLY opened at $840.46 on Friday. The stock's 50-day moving average price is $734.60 and its two-hundred day moving average price is $765.98. 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 company has a market cap of $795.47 billion, a PE ratio of 54.93, a PEG ratio of 1.17 and a beta of 0.47. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $937.00.

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 (EPS) 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 firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the company earned $3.92 EPS. The business'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. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

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.

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