Eastern Bank Sells 9,169 Shares of Eli Lilly and Company $LLY

Eastern Bank reduced its stake in Eli Lilly and Company (NYSE:LLY) by 7.3% during the second quarter, Holdings Channel.com reports. The fund owned 116,336 shares of the company’s stock after selling 9,169 shares during the period. Eli Lilly and Company makes up about 2.1% of Eastern Bank’s portfolio, making the stock its 12th biggest position. Eastern Bank’s holdings in Eli Lilly and Company were worth $139,537,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tanager Wealth Management LLP raised its holdings in Eli Lilly and Company by 2.6% during the 4th quarter. Tanager Wealth Management LLP now owns 395 shares of the company’s stock worth $424,000 after purchasing an additional 10 shares during the last quarter. Morey & Quinn Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 1.5% in the 4th quarter. Morey & Quinn Wealth Partners LLC now owns 661 shares of the company’s stock valued at $710,000 after purchasing an additional 10 shares during the last quarter. Wealthspan Partners LLC boosted its stake in shares of Eli Lilly and Company by 0.5% in the 4th quarter. Wealthspan Partners LLC now owns 2,110 shares of the company’s stock valued at $2,268,000 after purchasing an additional 10 shares during the last quarter. G&S Capital LLC increased its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. G&S Capital LLC now owns 501 shares of the company’s stock worth $538,000 after buying an additional 10 shares during the period. Finally, Serenus Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Serenus Wealth Advisors LLC now owns 439 shares of the company’s stock worth $472,000 after buying an additional 10 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 2.3%

Eli Lilly and Company stock opened at $1,122.32 on Tuesday. The company has a market capitalization of $1.06 trillion, a PE ratio of 39.87, a PEG ratio of 1.43 and a beta of 0.51. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $1,249.45. The firm’s fifty day moving average is $1,153.77 and its 200 day moving average is $1,044.22. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 1.26.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Eli Lilly and Company’s payout ratio is 24.58%.

Key Headlines Impacting Eli Lilly and Company

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Lilly plans to provide limited early access to experimental obesity drug retatrutide before potential U.S. FDA approval. The next-generation therapy could strengthen Lilly’s leadership in the rapidly expanding obesity market, although early access does not guarantee regulatory approval. Eli Lilly to offer early access to next-gen obesity drug to some patients
• Positive Sentiment: The FDA granted Breakthrough Therapy designation to olomorasib for previously treated patients with advanced pancreatic cancer carrying KRAS G12C mutations. The designation may accelerate development and regulatory review of Lilly’s investigational cancer treatment, expanding its pipeline beyond diabetes and obesity. Lilly’s olomorasib receives FDA Breakthrough Therapy designation
• Positive Sentiment: Investor attention remains focused on strong demand for Mounjaro and Zepbound, which are expected to drive second-quarter revenue and earnings growth. Lilly’s recent results showed rapid year-over-year expansion, while several analysts maintain price targets above current trading levels. Will Mounjaro and Zepbound Drive Lilly’s Q2 Results
• Neutral Sentiment: LLY is approaching a major earnings catalyst. Market commentary points to potential upside if sales exceed expectations but also warns that the stock could experience a large move in either direction because strong growth expectations are already embedded in its valuation. Eli Lilly Could Swing Over $76 Billion in Value After Earnings
• Negative Sentiment: Valuation analyses suggest the stock may be priced above estimates of its cash-flow-based intrinsic value after rising more than 300% over five years. This raises the bar for earnings, guidance and future obesity-drug growth. Eli Lilly Stock Looks Below Fair Value on Cash Flow
• Negative Sentiment: Novo Nordisk is attempting to regain momentum in the obesity-drug race, potentially increasing pricing and market-share pressure on Lilly. Separately, an executive’s recent open-market sale provides a modest negative sentiment signal, though it does not establish a change in company fundamentals. Obesity battle heats up as Novo competes with Lilly

Analysts Set New Price Targets

Several equities analysts recently issued reports on LLY shares. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,135.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Weiss Ratings upgraded Eli Lilly and Company from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Citigroup increased their price target on Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Barclays lifted their price objective on Eli Lilly and Company from $1,350.00 to $1,400.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Guggenheim upped their target price on Eli Lilly and Company from $1,235.00 to $1,273.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,283.64.

About Eli Lilly and Company

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.