Hartford Financial Management Inc. Sells 14,000 Shares of Eli Lilly and Company $LLY

Key Points

• Hartford Financial Management Inc. sold 14,000 shares of Eli Lilly, reducing its stake by 94.0%, and now owns only 894 shares, valued at around $697,000.
• Institutional ownership of Eli Lilly stands at 82.53%, with several hedge funds, including PNC Financial Services and Vanguard Group, significantly increasing their stakes.
• Analysts have revised their price targets for Eli Lilly downwards, with a current consensus target price of $938.61, suggesting a cautious outlook on the stock.

Hartford Financial Management Inc. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 94.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 894 shares of the company's stock after selling 14,000 shares during the period. Hartford Financial Management Inc.'s holdings in Eli Lilly and Company were worth $697,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after purchasing an additional 81,587 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock worth $4,808,443,000 after purchasing an additional 682,203 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $4,613,912,000. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Daiwa America cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 17th. JPMorgan Chase & Co. cut their price target 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. Berenberg Bank restated a "hold" rating and set a $830.00 price objective (down previously from $970.00) on shares of Eli Lilly and Company in a report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, UBS Group lowered their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $938.61.

Insider Buying and Selling at Eli Lilly and Company

In other news, EVP Daniel Skovronsky bought 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares of the company's stock, valued at $87,331,504. This represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jamere Jackson purchased 200 shares of the company's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at approximately $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. Insiders purchased 4,514 shares of company stock valued at $2,894,841 in the last quarter. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Up 0.6%

Shares of NYSE:LLY opened at $825.86 on Friday. The company has a market capitalization of $781.65 billion, a PE ratio of 53.98, a price-to-earnings-growth ratio of 1.18 and a beta of 0.47. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $935.63. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The business has a fifty day moving average price of $768.01 and a two-hundred day moving average price of $768.14.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating 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 company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the business earned $3.92 earnings per share. The firm'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 forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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.

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