Canvas Wealth Advisors LLC Trims Stake in Eli Lilly and Company $LLY

Canvas Wealth Advisors LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,451 shares of the company’s stock after selling 28 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. Nuveen LLC bought a new position in Eli Lilly and Company in the first quarter worth approximately $4,613,912,000. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the period. Cohen Investment Advisors LLC boosted its position in Eli Lilly and Company by 7,975.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company’s stock valued at $647,225,000 after acquiring an additional 773,947 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eli Lilly and Company by 106.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock valued at $1,154,508,000 after acquiring an additional 765,010 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gabrielle Sulzberger bought 117 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the acquisition, 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. In the last ninety days, insiders acquired 4,514 shares of company stock valued at $2,894,841. Insiders own 0.14% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $803.53 on Monday. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $935.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a market capitalization of $760.51 billion, a price-to-earnings ratio of 52.52, a PEG ratio of 1.15 and a beta of 0.47. The stock’s 50-day simple moving average is $753.09 and its 200-day simple moving average is $765.70.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LLY shares. Hsbc Global Res upgraded Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a report on Monday, August 11th. Morgan Stanley lowered their price target on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective for the company. in a research note on Sunday, August 17th. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $939.12.

Eli Lilly and Company Company Profile

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.