Essex Financial Services Inc. Sells 918 Shares of Eli Lilly and Company $LLY

Key Points

• Essex Financial Services Inc. reduced its stake in Eli Lilly by 3.7%, selling 918 shares and now owning 24,170 shares, valued at approximately $18.84 million.
• Eli Lilly's recent earnings report showed impressive results with earnings per share of $6.31, surpassing estimates by $0.72, and a revenue increase of 37.6% year-over-year.
• Insider transactions reveal recent purchases by directors, with Gabrielle Sulzberger acquiring 117 shares and Jamere Jackson buying 200 shares, indicating growing confidence in the company's prospects.

Essex Financial Services Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,170 shares of the company's stock after selling 918 shares during the period. Eli Lilly and Company makes up about 1.2% of Essex Financial Services Inc.'s holdings, making the stock its 15th biggest holding. Essex Financial Services Inc.'s holdings in Eli Lilly and Company were worth $18,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hobbs Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after buying an additional 12 shares in the last quarter. Hixon Zuercher LLC boosted its stake in Eli Lilly and Company by 0.7% in the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after buying an additional 12 shares in the last quarter. O Brien Wealth Partners LLC grew its position in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the last quarter. Ascent Capital Management LLC grew its position in Eli Lilly and Company by 2.5% during the first quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock valued at $409,000 after acquiring an additional 12 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners raised its stake in shares of Eli Lilly and Company by 2.7% during the first quarter. Tennessee Valley Asset Management Partners now owns 493 shares of the company's stock worth $407,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Activity at Eli Lilly and Company

In related news, Director Gabrielle Sulzberger acquired 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jamere Jackson bought 200 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the transaction, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $713.87 on Friday. 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 cap of $675.65 billion, a P/E ratio of 46.66, a P/E/G ratio of 1.03 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. The firm has a 50-day moving average of $735.09 and a 200-day moving average of $767.88.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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 return on equity of 92.72% and a net margin of 25.91%.The company 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 business earned $3.92 EPS. Eli Lilly and Company's revenue 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. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LLY shares. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Wall Street Zen downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. UBS Group cut their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. decreased their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Tuesday, September 16th. Finally, Cantor Fitzgerald lowered their target price on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $939.61.

Eli Lilly and Company 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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