Spinnaker Trust Sells 2,735 Shares of Eli Lilly and Company $LLY

Spinnaker Trust cut its position in Eli Lilly and Company (NYSE:LLY) by 18.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,335 shares of the company’s stock after selling 2,735 shares during the quarter. Spinnaker Trust’s holdings in Eli Lilly and Company were worth $9,616,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LLY. PNC Financial Services Group Inc. raised its stake in shares of 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 valued at $83,669,349,000 after buying an additional 50,002,551 shares during the period. Nuveen LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $4,613,912,000. Vanguard Group Inc. raised its stake in shares of 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 valued at $65,432,218,000 after buying an additional 4,975,395 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Eli Lilly and Company by 106.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock valued at $1,154,508,000 after buying an additional 765,010 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after buying an additional 682,203 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 1.1%

Shares of NYSE LLY opened at $810.78 on Thursday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $935.63. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $767.37 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 1.22 and a beta of 0.47. The business has a 50-day moving average of $775.02 and a 200-day moving average of $770.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the firm earned $3.92 earnings per share. Eli Lilly and Company’s 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. Sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.7%. Eli Lilly and Company’s payout ratio is presently 39.22%.

Insider Activity at Eli Lilly and Company

In other news, CEO David A. Ricks purchased 1,632 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gabrielle Sulzberger purchased 117 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,514 shares of company stock valued at $2,894,841 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several recent research reports. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Tuesday, October 14th. Cantor Fitzgerald set a $925.00 price target on Eli Lilly and Company and gave the company an “overweight” rating in a research report on Thursday, October 9th. Leerink Partnrs cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, August 11th. Finally, UBS Group reduced 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 report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $938.61.

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.