Eli Lilly and Company $LLY Stock Sold by Kelleher Financial Advisors

Key Points

• Kelleher Financial Advisors cut its Eli Lilly stake by 58.6% in the third quarter, selling 1,463 shares and retaining 1,035 shares valued at about $1.2 million.
• Other major institutions increased their positions, and institutional investors collectively owned 82.53% of the stock. Analysts held a “Moderate Buy” consensus rating, with an average price target of $1,404.14.
• Eli Lilly beat quarterly earnings and revenue estimates, reporting $7.48 EPS and $24.4 billion in revenue, up 38.6% year over year. The company also advanced a next-generation obesity treatment into Phase 3 testing.

Kelleher Financial Advisors lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 58.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,035 shares of the company's stock after selling 1,463 shares during the quarter. Kelleher Financial Advisors' holdings in Eli Lilly and Company were worth $1,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in 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 in the last quarter. State Street Corp lifted its position in Eli Lilly and Company by 1.7% during 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 last quarter. Bank of America Corp DE bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eli Lilly and Company by 1.9% in 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 in the last quarter. Finally, Jennison Associates LLC grew its stake in Eli Lilly and Company by 7.9% in 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 in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Activity

In other news, CAO Donald Zakrowski sold 2,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was 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 approximately $1,808,325.26. This trade represents a 56.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the transaction, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,500 shares of company stock valued at $22,970,770. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LLY has been the topic of a number of research analyst reports. Argus increased their price target on shares of Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a "buy" rating in a report on Friday, October 30th. Leerink Partners lifted their price objective on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Bank of America reiterated a "buy" rating and issued a $1,497.00 target price on shares of Eli Lilly and Company in a research report on Friday, October 30th. Cantor Fitzgerald increased their target price on Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Royal Bank Of Canada raised their price target on Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an "outperform" rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,404.14.

Key Stories Impacting Eli Lilly and Company

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

• Positive Sentiment: A report says Cantor Fitzgerald raised its price target to $1,600 from $1,440 and kept an “overweight” rating, adding to analyst optimism. Cantor Fitzgerald price-target update
• Positive Sentiment: Lilly advanced a next-generation obesity treatment into a Phase 3 study. Further progress could strengthen its pipeline beyond current weight-loss drugs, although the report provides limited trial details. Lilly advances Phase 3 obesity study
• Positive Sentiment: ETFs reportedly bought about $105 million of LLY shares on Nov. 2, suggesting institutional fund demand that may support the stock. ETF purchases of Lilly shares
• Positive Sentiment: In a challenge brought by Lilly, the National Advertising Division recommended that Good Life Meds stop or revise certain claims about compounded tirzepatide products. The recommendation could help Lilly contest marketing by compounded-drug competitors. Advertising claims recommendation
• Neutral Sentiment: EVP Anat Hakim sold 5,000 shares under a pre-arranged Rule 10b5-1 plan. The sale is notable, though the planned nature makes it less clear as a signal about the company’s outlook. Insider sale report
• Negative Sentiment: Recent commentary questions the quality and durability of Lilly’s growth, citing possible one-off revenue benefits and lower realized prices. With expectations and valuation elevated, any deceleration could pressure the shares. Revenue growth quality concerns

Eli Lilly and Company Trading Up 0.6%

LLY stock opened at $1,418.14 on Thursday. The company has a market capitalization of $1.33 trillion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. Eli Lilly and Company has a one year low of $850.51 and a one year high of $1,449.68. The company's 50 day moving average price is $1,207.75 and its two-hundred day moving average price is $1,097.85.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The company had revenue of $24.40 billion during the quarter, compared to analysts' expectations of $22.58 billion. During the same quarter in the prior year, the company earned $7.02 EPS. The firm's revenue was up 38.6% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

About Eli Lilly and Company

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.

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