Truist Financial Corp Purchases 5,075 Shares of Eli Lilly and Company $LLY

Key Points

• Truist Financial Corp increased its stake in Eli Lilly by 1.4% during Q2, purchasing an additional 5,075 shares to raise its total holdings to 377,078 shares, valued at approximately $293.9 million.
• Eli Lilly reported $6.31 EPS for the latest quarter, exceeding expectations by $0.72, with a year-over-year revenue increase of 37.6%.
• Insider trading activity saw CEO David A. Ricks purchasing 1,632 shares at around $645 each, bringing his total ownership to over 546,601 shares.

Truist Financial Corp boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377,078 shares of the company's stock after purchasing an additional 5,075 shares during the quarter. Truist Financial Corp's holdings in Eli Lilly and Company were worth $293,943,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares in the last quarter. Gradient Investments LLC increased its holdings in shares of Eli Lilly and Company by 80.1% during the first quarter. Gradient Investments LLC now owns 670 shares of the company's stock valued at $553,000 after acquiring an additional 298 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Eli Lilly and Company by 23.1% during the first quarter. Merit Financial Group LLC now owns 25,303 shares of the company's stock valued at $20,898,000 after acquiring an additional 4,752 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Eli Lilly and Company by 3.4% during the first quarter. ST Germain D J Co. Inc. now owns 1,667 shares of the company's stock valued at $1,377,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Insider Activity

In related news, CEO David A. Ricks acquired 1,632 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gabrielle Sulzberger acquired 117 shares of the stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the transaction, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 4,514 shares of company stock worth $2,894,841. 0.14% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Up 5.0%

Shares of NYSE:LLY opened at $763.01 on Wednesday. The stock has a market capitalization of $722.16 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 1.01 and a beta of 0.47. 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's 50-day simple moving average is $733.15 and its two-hundred day simple moving average is $765.96. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $937.00.

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, topping the consensus estimate of $5.59 by $0.72. The business 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 for the quarter was up 37.6% on a year-over-year basis. During the same period last 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 expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LLY. Guggenheim reduced their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Leerink Partners reaffirmed a "market perform" rating and set a $715.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Cantor Fitzgerald dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on 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 assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $939.61.

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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