Mezzasalma Advisors LLC Trims Stake in Eli Lilly and Company $LLY

Key Points

• Mezzasalma Advisors LLC reduced its stake in Eli Lilly and Company by 14.3% during the second quarter, now holding 6,121 shares worth approximately $4.77 million.
• Eli Lilly reported a quarterly profit of $6.31 EPS, surpassing estimates by $0.72, with revenue reaching $15.56 billion, up 37.6% year-over-year.
• Insider transactions included CEO David A. Ricks purchasing 1,632 shares for over $1 million, indicating confidence in the company's future performance.

Mezzasalma Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,121 shares of the company's stock after selling 1,023 shares during the period. Eli Lilly and Company accounts for 1.4% of Mezzasalma Advisors LLC's portfolio, making the stock its 16th largest holding. Mezzasalma Advisors LLC's holdings in Eli Lilly and Company were worth $4,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after buying an additional 50,002,551 shares in the last quarter. Nuveen LLC bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $4,613,912,000. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Cohen Investment Advisors LLC increased its holdings in Eli Lilly and Company by 7,975.5% in the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company's stock worth $647,225,000 after acquiring an additional 773,947 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Eli Lilly and Company by 106.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company's stock worth $1,154,508,000 after acquiring an additional 765,010 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 1.9%

Shares of LLY stock opened at $803.53 on Friday. The company's fifty day simple moving average is $753.09 and its two-hundred day simple moving average is $765.86. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $935.63. The stock has a market cap of $760.51 billion, a P/E ratio of 52.52, a PEG ratio of 1.15 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 issued its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business's revenue was up 37.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Analyst Ratings Changes

LLY has been the subject of a number of recent analyst reports. Cantor Fitzgerald set a $925.00 price target on shares of Eli Lilly and Company and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Berenberg Bank restated a "hold" rating and set a $830.00 target price (down previously from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research note on Monday, August 11th. UBS Group lowered their price objective 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. Finally, Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $939.12.

Insider Buying and Selling at Eli Lilly and Company

In other news, CEO David A. Ricks bought 1,632 shares of the 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 owned 546,601 shares of the company's stock, valued at $352,431,926.77. The trade was a 0.30% 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 Jamere Jackson bought 200 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director owned 9,402 shares of the company's stock, valued at $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 4,514 shares of company stock worth $2,894,841. Company insiders own 0.13% of the company's stock.

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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