DAVENPORT & Co LLC Lowers Holdings in Eli Lilly and Company $LLY

DAVENPORT & Co LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,058 shares of the company’s stock after selling 1,214 shares during the quarter. DAVENPORT & Co LLC’s holdings in Eli Lilly and Company were worth $24,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after purchasing an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after buying an additional 40 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Eli Lilly and Company by 1.2% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,173 shares of the company’s stock valued at $969,000 after acquiring an additional 14 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Eli Lilly and Company by 13.9% during the first quarter. Wedge Capital Management L L P NC now owns 738 shares of the company’s stock valued at $610,000 after acquiring an additional 90 shares in the last quarter. Finally, Meridian Financial Partners LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth approximately $865,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $845.40 on Tuesday. The firm has a 50 day moving average of $735.35 and a 200 day moving average of $765.48. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $800.14 billion, a price-to-earnings ratio of 55.25, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $937.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the firm earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. HSBC increased their target price on Eli Lilly and Company from $700.00 to $800.00 in a research note on Wednesday, October 1st. DZ Bank raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Berenberg Bank reissued a “hold” rating and issued a $830.00 target price (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Daiwa America cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Wall Street Zen downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $938.94.

Insider Activity at Eli Lilly and Company

In related news, Director J Erik Fyrwald purchased 1,565 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gabrielle Sulzberger acquired 117 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the purchase, the director directly owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock valued at $2,894,841 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

About Eli Lilly and Company

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.