Heritage Wealth Partners LLC Sells 424 Shares of Eli Lilly and Company $LLY

Key Points

• Heritage Wealth Partners LLC reduced its stake in Eli Lilly and Company by 42.3%, selling 424 shares and holding a total of 578 shares worth $477,000 as of the latest filing.
• Wall Street analysts are optimistic about Eli Lilly, with a consensus rating of "Moderate Buy" and an average price target of $950.17, following multiple upgrades from major firms.
• Insider buying activity has increased, with EVP Daniel Skovronsky and CEO David A. Ricks purchasing shares at significant values, indicating confidence in the company's future.

Heritage Wealth Partners LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 578 shares of the company's stock after selling 424 shares during the period. Heritage Wealth Partners LLC's holdings in Eli Lilly and Company were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. WestEnd Advisors LLC raised its holdings in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department lifted its position in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the 1st quarter worth about $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the 4th quarter worth about $43,000. Finally, O Brien Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LLY shares. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (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 issued a $715.00 price objective on shares of Eli Lilly and Company in a report on Thursday, August 7th. Daiwa Capital Markets cut Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price objective for the company. in a report on Sunday, August 17th. Finally, Cantor Fitzgerald decreased their price objective on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average price target of $950.17.

Insider Buying and Selling

In other news, EVP Daniel Skovronsky bought 1,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares of the company's stock, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David A. Ricks bought 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares of the company's stock, valued at $352,431,926.77. The trade was a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 4,514 shares of company stock valued at $2,894,841 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Trading Up 0.1%

Eli Lilly and Company stock opened at $710.7290 on Friday. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.48. 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 stock has a market capitalization of $672.68 billion, a P/E ratio of 46.45, a PEG ratio of 0.99 and a beta of 0.44. The stock has a 50-day simple moving average of $754.70 and a 200 day simple moving average of $790.90.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping 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 business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same quarter last year, the company posted $3.92 earnings per share. Eli Lilly and Company's quarterly revenue 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 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 39.22%.

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.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.