First Business Financial Services Inc. Decreases Stock Position in Eli Lilly and Company $LLY

Key Points

• First Business Financial Services Inc. reduced its stake in Eli Lilly and Company by 5.4%, owning 6,180 shares, valued at approximately $4.82 million, making it the fund's 24th largest position.
• Despite the decrease from First Business, other investors like WestEnd Advisors LLC significantly increased their stakes by 210% during the same period.
• Eli Lilly's latest earnings report surpassed estimates, reporting $6.31 EPS and $15.56 billion in revenue, reflecting a 37.6% increase in quarterly revenue year-over-year.

First Business Financial Services Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,180 shares of the company's stock after selling 350 shares during the period. Eli Lilly and Company comprises approximately 0.4% of First Business Financial Services Inc.'s holdings, making the stock its 24th largest position. First Business Financial Services Inc.'s holdings in Eli Lilly and Company were worth $4,817,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WestEnd Advisors LLC raised its stake in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $27,000. Citizens National Bank Trust Department raised its stake in 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 valued at $35,000 after buying an additional 27 shares during the last quarter. Blume Capital Management Inc. raised its stake in Eli Lilly and Company by 46.7% during the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company's stock valued at $34,000 after buying an additional 14 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $35,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LLY shares. Morgan Stanley cut their price objective on shares of 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, October 3rd. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Berenberg Bank reissued a "hold" rating and set a $830.00 price objective (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. DZ Bank raised shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Guggenheim reissued a "buy" rating and set a $948.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $938.61.

Insider Buying and Selling

In related news, Director J Erik Fyrwald purchased 1,565 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares in the company, valued at $47,903,686.74. This trade represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gabrielle Sulzberger purchased 117 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the purchase, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,514 shares of company stock worth $2,894,841 in the last three months. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Up 1.1%

Shares of Eli Lilly and Company stock opened at $820.97 on Friday. The company has a market capitalization of $777.01 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.16 and a beta of 0.47. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The company has a fifty day moving average of $765.52 and a 200 day moving average of $767.43. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $935.63.

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

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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