Eli Lilly and Company $LLY Shares Sold by Worth Asset Management LLC

Key Points

• Worth Asset Management LLC slashed its stake in Eli Lilly and Company by 53.7%, holding 1,565 shares worth $1.22 million at the end of the second quarter.
• CEO David A. Ricks acquired 1,632 shares, increasing his ownership while insiders bought a total of 4,514 shares in the last quarter, valued at $2.89 million.
• Eli Lilly reported strong earnings, with $6.31 EPS, surpassing estimates, and set a price target of $21.75 - $23.00 EPS for FY 2025.

Worth Asset Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 53.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,565 shares of the company's stock after selling 1,817 shares during the period. Worth Asset Management LLC's holdings in Eli Lilly and Company were worth $1,220,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LLY. PNC Financial Services Group Inc. grew its stake 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 purchasing an additional 50,002,551 shares in the last quarter. GAMMA Investing LLC grew its stake in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Nuveen LLC acquired a new position in Eli Lilly and Company in the first quarter worth about $4,613,912,000. Vanguard Group Inc. grew its stake in Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in Eli Lilly and Company by 7,975.5% in the first quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company's stock worth $647,225,000 after purchasing an additional 773,947 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In related news, CEO David A. Ricks acquired 1,632 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Daniel Skovronsky acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the purchase, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,514 shares of company stock valued at $2,894,841. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $9.41 during mid-day trading on Friday, reaching $753.52. 7,319,147 shares of the company's stock traded hands, compared to its average volume of 3,181,974. The business's 50-day moving average price is $738.37 and its 200-day moving average price is $771.89. The stock has a market capitalization of $713.18 billion, a P/E ratio of 49.25, a price-to-earnings-growth ratio of 1.06 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. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $939.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were 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 of this dividend was Friday, August 15th. Eli Lilly and Company's payout ratio is 39.22%.

Analyst Ratings Changes

A number of equities analysts recently commented on LLY shares. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Guggenheim decreased their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. HSBC upgraded Eli Lilly and Company from a "reduce" rating to a "hold" rating and lifted their price target for the stock from $675.00 to $700.00 in a research note on Wednesday, August 27th. UBS Group decreased their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Leerink Partnrs cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $939.61.

Eli Lilly and Company 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.