Gateway Investment Advisers LLC Trims Holdings in Eli Lilly and Company $LLY

Key Points

• Gateway Investment Advisers LLC reduced its stake in Eli Lilly and Company by 1.1%, holding 157,337 shares valued at approximately $122.6 million.
• Multiple analysts have recently modified their ratings and price targets for Eli Lilly, with Deutsche Bank lowering its target from $1,010 to $900, while Wall Street Zen upgraded it to a "strong-buy" rating.
• Insider transactions include Director Jamere Jackson purchasing 200 shares and CEO David A. Ricks buying 1,632 shares, indicating confidence in the company's prospects.

Gateway Investment Advisers LLC lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,337 shares of the company's stock after selling 1,801 shares during the period. Eli Lilly and Company accounts for 1.3% of Gateway Investment Advisers LLC's holdings, making the stock its 13th biggest position. Gateway Investment Advisers LLC's holdings in Eli Lilly and Company were worth $122,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also 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% in the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after buying an additional 12 shares during the last quarter. Hixon Zuercher LLC raised its holdings in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after purchasing an additional 12 shares during the last quarter. O Brien Wealth Partners LLC raised its holdings in shares of 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 worth $49,000 after purchasing an additional 12 shares during the last quarter. Ascent Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 2.5% during the first quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after purchasing an additional 12 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners raised its holdings 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 purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $9.41 during mid-day trading on Friday, hitting $753.52. 7,319,147 shares of the company were exchanged, compared to its average volume of 3,181,974. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $939.86. 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 50 day moving average of $738.37 and a 200-day moving average of $771.89. The stock has a market cap of $713.18 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 1.06 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the prior year, the firm earned $3.92 EPS. The company's revenue for the quarter was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 39.22%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LLY shares. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Leerink Partners restated a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Hsbc Global Res upgraded 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 restated a "hold" rating and set a $830.00 price target (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $939.61.

Insider Activity

In other news, CEO David A. Ricks bought 1,632 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares of the company's stock, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jamere Jackson bought 200 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 4,514 shares of company stock worth $2,894,841. Company insiders own 0.13% of the company's stock.

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.