Eli Lilly and Company $LLY Stock: New York Life Investment Management LLC Decreases Holdings

New York Life Investment Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 129,112 shares of the company’s stock after selling 596 shares during the quarter. Eli Lilly and Company makes up about 1.0% of New York Life Investment Management LLC’s portfolio, 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. BlackRock Inc. grew its stake in Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock worth $81,009,981,000 after buying an additional 1,046,558 shares during the last quarter. State Street Corp increased its position in Eli Lilly and Company by 1.7% during the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock worth $43,438,262,000 after buying an additional 605,752 shares during the period. Bank of America Corp DE acquired a new position in Eli Lilly and Company during the second quarter worth approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Eli Lilly and Company by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after buying an additional 137,364 shares during the period. Finally, Jennison Associates LLC lifted its stake in Eli Lilly and Company by 7.9% in the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock valued at $6,550,587,000 after buying an additional 400,538 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

More Eli Lilly and Company News

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 Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company 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 sale, the executive vice president owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the transaction, the executive vice president owned 4,137 shares in the company, valued at $5,802,225.24. The trade was a 54.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Weiss Ratings downgraded Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. HSBC raised their target price on shares of Eli Lilly and Company from $850.00 to $940.00 and gave the stock a “reduce” rating in a research report on Thursday, September 10th. Bank of America reaffirmed a “buy” rating and issued a $1,497.00 target price on shares of Eli Lilly and Company in a report on Friday, October 30th. UBS Group upped their price target on shares of 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. Finally, Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,416.64.

Eli Lilly and Company Stock Up 1.5%

Shares of Eli Lilly and Company stock opened at $1,432.60 on Wednesday. Eli Lilly and Company has a one year low of $850.51 and a one year high of $1,453.00. The company has a market cap of $1.35 trillion, a P/E ratio of 46.50, a PEG ratio of 1.69 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. The firm has a fifty day moving average of $1,225.57 and a two-hundred day moving average of $1,104.56.

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

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a $1.73 dividend. The ex-dividend date is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.