Eli Lilly and Company $LLY Stock Sold by Balentine LLC

Key Points

• Balentine LLC reduced its Eli Lilly stake by 26.4% in the third quarter, selling 1,322 shares and ending the period with 3,679 shares valued at about $4.26 million. Institutional investors collectively owned 82.53% of the stock.
• Eli Lilly reported quarterly EPS of $7.48, beating estimates of $5.71, while revenue of $24.40 billion exceeded forecasts and rose 38.6% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $1,404.14. The company also announced a quarterly dividend of $1.73 per share, equivalent to a 0.5% annual yield.

Balentine LLC cut its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 26.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,679 shares of the company's stock after selling 1,322 shares during the period. Balentine LLC's holdings in Eli Lilly and Company were worth $4,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Marshall & Sterling Wealth Advisors Inc. grew its stake in Eli Lilly and Company by 60.0% in the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company's stock valued at $37,000 after acquiring an additional 15 shares during the period. Torren Management LLC increased its holdings in shares of Eli Lilly and Company by 357.1% during the third quarter. Torren Management LLC now owns 32 shares of the company's stock valued at $37,000 after acquiring an additional 25 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Eli Lilly and Company during the first quarter worth approximately $42,000. Foresight Capital Management Advisors Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter worth approximately $49,000. Finally, Caitlin John LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth $64,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 0.5%

Shares of NYSE:LLY opened at $1,372.15 on Friday. The business's 50 day moving average is $1,215.24 and its 200 day moving average is $1,101.16. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,453.00. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 44.54, a PEG ratio of 1.69 and a beta of 0.40. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17.

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

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a $1.73 dividend. The ex-dividend date is Friday, November 13th. This represents a $6.92 annualized dividend and a dividend yield of 0.5%. Eli Lilly and Company's dividend payout ratio is currently 22.46%.

Analyst Ratings Changes

LLY has been the subject of several research reports. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Weiss Ratings downgraded shares of Eli Lilly and Company from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 30th. Guggenheim raised their price objective on shares of Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the company a "buy" rating in a research note on Friday, September 18th. TD Cowen reaffirmed a "buy" rating and issued a $1,250.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an "overweight" rating in a report on Friday, October 30th. One 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,404.14.

Trending Headlines about Eli Lilly and Company

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

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

Insider Activity

In related news, CAO Donald Zakrowski sold 2,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the transaction, the chief accounting officer directly owned 1,526 shares of the company's stock, valued at $1,808,325.26. This trade represents a 56.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the transaction, the executive vice president owned 54,147 shares in the company, valued at approximately $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,500 shares of company stock worth $17,020,770 over the last quarter. Insiders own 0.14% of the company's stock.

About Eli Lilly and Company

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management.

The company's medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.

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