Eli Lilly and Company $LLY Stock: Cornerstone Advisors LLC Cuts Stake

Cornerstone Advisors LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,689 shares of the company’s stock after selling 3,943 shares during the period. Eli Lilly and Company accounts for approximately 1.8% of Cornerstone Advisors LLC’s holdings, making the stock its 10th biggest position. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $54,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Coastal Bridge Advisors LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth $2,959,000. Birinyi Associates Inc. raised its stake in shares of Eli Lilly and Company by 32.6% during the third quarter. Birinyi Associates Inc. now owns 1,460 shares of the company’s stock valued at $1,689,000 after purchasing an additional 359 shares in the last quarter. Mosaic Family Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 70.6% during the second quarter. Mosaic Family Wealth Partners LLC now owns 3,455 shares of the company’s stock valued at $4,144,000 after purchasing an additional 1,430 shares in the last quarter. Heritage Investors Management Corp lifted its holdings in Eli Lilly and Company by 6.5% in the third quarter. Heritage Investors Management Corp now owns 11,774 shares of the company’s stock worth $13,624,000 after purchasing an additional 718 shares during the period. Finally, Canton Hathaway LLC lifted its holdings in Eli Lilly and Company by 160.4% in the third quarter. Canton Hathaway LLC now owns 2,273 shares of the company’s stock worth $2,630,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, EVP Anat Hakim sold 5,000 shares of the firm’s 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 sale, the executive vice president directly owned 4,137 shares in the company, valued at approximately $5,802,225.24. This trade represents a 54.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the transaction, the executive vice president directly owned 54,147 shares in the company, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their position. 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 corporate insiders.

More Eli Lilly and Company News

Here’s some of the latest news about LLY:

• Positive Sentiment: Lilly broke ground on a $3.5 billion Pennsylvania manufacturing facility intended to make next-generation obesity medicines, including investigational retatrutide. The project supports the company’s broader production expansion, although the site is not expected to begin operations until 2031. Lilly announces Pennsylvania manufacturing facility
• Neutral Sentiment: Lilly is advancing an early-stage ALS drug study, but investors are still waiting for clinical data, so the update does not yet establish whether the treatment will succeed. Eli Lilly advances early ALS drug study
• Negative Sentiment: China Merchants Securities downgraded Lilly from “buy” to “hold,” providing a cautionary view amid the positive product and capacity news. China Merchants Securities stock recommendations

Wall Street Analyst Weigh In

Several equities analysts have commented on LLY shares. Leerink Partners raised their target price on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Cantor Fitzgerald upped their price target on shares of Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Weiss Ratings cut shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Royal Bank Of Canada increased their price target on Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, UBS Group lifted their price target on Eli Lilly and Company from $1,425.00 to $1,625.00 and gave the company a “buy” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,416.64.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $1,444.05 on Friday. Eli Lilly and Company has a 1-year low of $850.51 and a 1-year high of $1,460.00. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 46.87, a P/E/G ratio of 1.71 and a beta of 0.40. The stock’s fifty day simple moving average is $1,242.25 and its 200-day simple moving average is $1,110.30.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 86.76% and a net margin of 31.90%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the business earned $7.02 EPS. On average, sell-side analysts predict 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 issued a $1.73 dividend. The ex-dividend date is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.5%. Eli Lilly and Company’s dividend payout ratio is currently 22.46%.

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.