Eli Lilly and Company $LLY Holdings Boosted by Traynor Capital Management Inc.

Traynor Capital Management Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,402 shares of the company’s stock after purchasing an additional 588 shares during the quarter. Eli Lilly and Company accounts for about 3.0% of Traynor Capital Management Inc.’s holdings, making the stock its 8th largest position. Traynor Capital Management Inc.’s holdings in Eli Lilly and Company were worth $64,104,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock valued at $81,009,981,000 after buying an additional 1,046,558 shares in the last quarter. State Street Corp increased its position in shares of Eli Lilly and Company by 1.7% during the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock valued at $43,438,262,000 after buying an additional 605,752 shares during the period. Bank of America Corp DE purchased a new stake in shares of Eli Lilly and Company in the second quarter worth about $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eli Lilly and Company by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after buying an additional 137,364 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Eli Lilly and Company by 7.9% in the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock worth $6,550,587,000 after buying an additional 400,538 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Anat Hakim sold 5,000 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $1,190.00, for a total transaction of $5,950,000.00. Following the completion of the sale, the executive vice president directly owned 11,875 shares in the company, valued at $14,131,250. The trade was a 29.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald Zakrowski sold 2,000 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the sale, the chief accounting officer owned 1,526 shares of the company’s stock, valued at approximately $1,808,325.26. The trade was a 56.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,500 shares of company stock valued at $15,958,170 over the last three months. 0.14% of the stock is owned by corporate insiders.

More Eli Lilly and Company News

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

• Positive Sentiment: Another strong quarter and higher guidance: Third-quarter revenue rose roughly 39% year over year to $24.4 billion, beating expectations, while adjusted EPS also exceeded estimates. Strong demand for Mounjaro and Zepbound led Lilly to raise its full-year outlook. Eli Lilly Just Delivered Another Blowout Quarter
• Positive Sentiment: Analyst price-target increases: Cantor Fitzgerald raised its target to $1,600 and maintained an “overweight” rating. Other firms, including JPMorgan, also boosted targets, reflecting continued confidence in Lilly’s earnings outlook. Cantor Fitzgerald price target
• Neutral Sentiment: Commercial reorganization: Lilly is combining its U.S. and international commercial operations into one division. The move could improve coordination and execution globally, but its financial effect is not yet clear. Lilly combines commercial divisions
• Negative Sentiment: Pricing and growth concerns: Medicare’s GLP-1 Bridge program and lower realized drug prices may pressure revenue and margins. Analysts also warn that growth could moderate after exceptionally strong results, while one-time revenue benefits may not recur. Lilly’s First Full Medicare Quarter
• Negative Sentiment: High expectations and concentration risk: With about two-thirds of revenue tied to its leading GLP-1 medicines and the shares trading at a premium valuation, investors may be taking profits and demanding evidence that rapid growth can continue. Eli Lilly: Softer Growth Ahead

Analyst Ratings Changes

LLY has been the subject of several recent analyst reports. Weiss Ratings cut shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Berenberg Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 target price on the stock in a report on Tuesday, September 15th. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. HSBC raised their price target on shares of Eli Lilly and Company from $850.00 to $940.00 and gave the company a “reduce” rating in a report on Thursday, September 10th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,450.00 price target on shares of Eli Lilly and Company in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,404.14.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,412.06 on Tuesday. The stock’s 50-day simple moving average is $1,200.81 and its two-hundred day simple moving average is $1,094.25. Eli Lilly and Company has a twelve month low of $850.51 and a twelve month high of $1,449.68. The firm has a market capitalization of $1.33 trillion, a P/E ratio of 45.83, a P/E/G ratio of 1.73 and a beta of 0.46. The company has a quick ratio of 1.00, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. The firm had revenue of $24.40 billion during the quarter, compared to the consensus estimate of $22.58 billion. Eli Lilly and Company had a return on equity of 97.83% and a net margin of 33.53%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the company posted $7.02 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 35.18 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 Thursday, December 10th. Investors of record on Friday, November 13th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 13th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 22.46%.

About Eli Lilly and Company

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company’s portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer’s disease.