Hodges Capital Management Inc. Decreases Stake in Eli Lilly and Company $LLY

Key Points

• Hodges Capital Management Inc. decreased its stake in Eli Lilly and Company by 6.9%, owning 10,171 shares after selling 755 shares during the first quarter, valuing its holdings at approximately $8.4 million.
• Eli Lilly reported strong financial results, with $6.31 earnings per share for the quarter, exceeding estimates by $0.72, and quarterly revenue surged 37.6% year-over-year.
• Analysts have adjusted price targets for Eli Lilly, with Cantor Fitzgerald lowering it from $975 to $825, while a consensus rating of "Moderate Buy" gives an average price target of $950.17.

Hodges Capital Management Inc. lowered its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,171 shares of the company's stock after selling 755 shares during the quarter. Hodges Capital Management Inc.'s holdings in Eli Lilly and Company were worth $8,400,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LLY. WestEnd Advisors LLC grew its holdings in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth about $27,000. Citizens National Bank Trust Department grew its holdings in shares of 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 worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth about $40,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $755.85 on Friday. The business's 50 day moving average is $741.52 and its two-hundred day moving average is $778.38. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $942.35. The firm has a market cap of $715.38 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 1.05 and a beta of 0.47. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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 analyst estimates of $14.40 billion. During the same period in the prior year, the company posted $3.92 EPS. 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 forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

Analysts Set New Price Targets

Several research firms recently commented on LLY. Cantor Fitzgerald reduced their price target on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. UBS Group reduced their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Guggenheim reduced their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $950.17.

Insider Buying and Selling

In other Eli Lilly and Company news, Director Gabrielle Sulzberger bought 117 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director directly owned 2,703 shares in the company, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and 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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