Eli Lilly and Company $LLY Stock Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,112 shares of the company’s stock after selling 596 shares during the quarter. Eli Lilly and Company accounts for 1.0% of New York Life Investment Management LLC’s holdings, making the stock its 22nd largest holding. New York Life Investment Management LLC’s holdings in Eli Lilly and Company were worth $149,393,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LLY. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Eli Lilly and Company by 109.7% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 9,496 shares of the company’s stock worth $10,987,000 after buying an additional 4,968 shares during the period. 71 West Capital Partners raised its holdings in shares of Eli Lilly and Company by 1.7% in the 3rd quarter. 71 West Capital Partners now owns 6,024 shares of the company’s stock valued at $6,970,000 after buying an additional 102 shares during the period. Nemes Rush Group LLC raised its holdings in shares of Eli Lilly and Company by 0.6% in the 3rd quarter. Nemes Rush Group LLC now owns 15,668 shares of the company’s stock valued at $18,129,000 after buying an additional 93 shares during the period. Pinion Investment Advisors LLC lifted its stake in Eli Lilly and Company by 5.4% during the 3rd quarter. Pinion Investment Advisors LLC now owns 1,454 shares of the company’s stock worth $1,682,000 after acquiring an additional 75 shares in the last quarter. Finally, Montis Financial LLC lifted its stake in Eli Lilly and Company by 21.2% during the 3rd quarter. Montis Financial LLC now owns 360 shares of the company’s stock worth $417,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company News Summary

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

• Positive Sentiment: Foundayo met the primary endpoint in a Phase 3 trial for obstructive sleep apnea, reducing breathing interruptions by up to an average of 44%. Lilly plans to seek FDA approval for the additional use by year-end, which could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
• Positive Sentiment: Jefferies raised its price target to $1,700 and maintained a Buy rating, signaling continued analyst confidence in Lilly’s prospects. Jefferies price target
• Positive Sentiment: Lilly’s agreement with Hims & Hers and a similar arrangement with LifeMD expands digital access to its branded obesity medicines, including Zepbound and Foundayo. Hims’ share-price decline following its own disappointing results appears company-specific; coverage reported Lilly holding steady. Yahoo Finance article
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add warnings about a possible increased risk of NAION, a rare eye condition that can cause sudden, potentially permanent vision loss. The class-wide warning could raise safety concerns for patients and investors, though the condition is rare. CNBC article

Insider Activity at Eli Lilly and Company

In related news, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the transaction, the executive vice president directly owned 54,147 shares of the company’s stock, valued at $63,628,139.70. This represents a 10.72% 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, EVP Anat Hakim sold 5,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the completion of the transaction, the executive vice president owned 4,137 shares in the company, valued at $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $1,432.60 on Wednesday. Eli Lilly and Company has a 12 month low of $850.51 and a 12 month high of $1,453.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. The firm has a market capitalization of $1.35 trillion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.40. The business’s fifty day moving average price is $1,225.57 and its 200 day moving average price is $1,104.56.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.71 by $1.77. The company 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 86.76% and a net margin of 31.90%. Eli Lilly and Company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the business earned $7.02 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 35.70 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend 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 22.46%.

Analysts Set New Price Targets

A number of brokerages recently commented on LLY. Weiss Ratings cut Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. TD Cowen reiterated a “buy” rating and set a $1,250.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. Morgan Stanley boosted their price target on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $1,610.00 to $1,700.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,416.64.

Eli Lilly and Company Profile

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.