Keybank National Association OH Sells 3,971 Shares of Eli Lilly and Company $LLY

Keybank National Association OH cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.6% during the third quarter, HoldingsChannel.com reports. The firm owned 105,115 shares of the company’s stock after selling 3,971 shares during the period. Keybank National Association OH’s holdings in Eli Lilly and Company were worth $121,626,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Coastal Bridge Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the second quarter valued at about $2,959,000. Birinyi Associates Inc. increased its stake in shares of Eli Lilly and Company by 32.6% during the 3rd quarter. Birinyi Associates Inc. now owns 1,460 shares of the company’s stock worth $1,689,000 after purchasing an additional 359 shares in the last quarter. Mosaic Family Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 70.6% during the 2nd quarter. Mosaic Family Wealth Partners LLC now owns 3,455 shares of the company’s stock worth $4,144,000 after purchasing an additional 1,430 shares in the last quarter. Heritage Investors Management Corp raised its position in shares of Eli Lilly and Company by 6.5% during the 3rd 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 last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Eli Lilly and Company by 51.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 44,851 shares of the company’s stock worth $51,896,000 after purchasing an additional 15,214 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company News Roundup

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

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $1,432.60 on Wednesday. The company has a market cap 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. 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 company has a 50-day simple moving average of $1,225.57 and a 200-day simple moving average of $1,104.56.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. The business had revenue of $24.40 billion during the quarter, compared to analyst estimates of $22.58 billion. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.02 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 35.70 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders 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 annualized dividend and a yield of 0.5%. Eli Lilly and Company’s payout ratio is 22.46%.

Insider Buying and Selling at Eli Lilly and Company

In other news, EVP Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the sale, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of Eli Lilly and Company stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the sale, the executive vice president directly owned 4,137 shares of the company’s stock, valued at approximately $5,802,225.24. This represents a 54.72% 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. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Guggenheim upped their target price on Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Argus raised their price target on Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Cantor Fitzgerald boosted their price target on Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Berenberg Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price target for the company in a report on Tuesday, September 15th. Finally, Scotiabank upped their price objective on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the company a “sector outperform” 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 issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,416.64.

Eli Lilly and Company 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.