Cornerstone Advisors LLC Buys 14,200 Shares of Eli Lilly and Company $LLY

Cornerstone Advisors LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 35.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,500 shares of the company’s stock after acquiring an additional 14,200 shares during the period. Eli Lilly and Company accounts for about 1.5% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 13th largest position. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $42,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. Lazard Freres Gestion S.A.S. lifted its position in shares of Eli Lilly and Company by 114.3% during the second quarter. Lazard Freres Gestion S.A.S. now owns 77,295 shares of the company’s stock worth $60,253,000 after purchasing an additional 41,222 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in Eli Lilly and Company by 15.3% in the 2nd quarter. Precedent Wealth Partners LLC now owns 294 shares of the company’s stock worth $229,000 after buying an additional 39 shares during the period. Capital Advisors Inc. OK lifted its holdings in Eli Lilly and Company by 6.8% during the 2nd quarter. Capital Advisors Inc. OK now owns 6,747 shares of the company’s stock valued at $5,260,000 after buying an additional 429 shares in the last quarter. Family CFO Inc purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at about $54,000. Finally, Duquesne Family Office LLC boosted its position in Eli Lilly and Company by 52.5% in the 1st quarter. Duquesne Family Office LLC now owns 94,830 shares of the company’s stock valued at $78,321,000 after buying an additional 32,640 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, August 11th. Leerink Partners upgraded Eli Lilly and Company from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $886.00 to $1,104.00 in a report on Monday, November 10th. Cantor Fitzgerald raised their price target on Eli Lilly and Company from $925.00 to $985.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Scotiabank began coverage on shares of Eli Lilly and Company in a research note on Thursday. They issued a “sector outperform” rating and a $1,165.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $876.00 to $879.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,015.11.

Eli Lilly and Company Stock Up 0.2%

Eli Lilly and Company stock opened at $1,024.67 on Friday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,033.62. The business has a fifty day moving average price of $826.89 and a 200-day moving average price of $780.14. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market capitalization of $968.70 billion, a price-to-earnings ratio of 66.97, a PEG ratio of 1.21 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter last year, the company earned $1.18 earnings per share. The company’s quarterly revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 14th. Eli Lilly and Company’s payout ratio is currently 29.35%.

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.