Nova Wealth Management Inc. Cuts Stock Position in Eli Lilly and Company $LLY

Nova Wealth Management Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 26.0% during the second quarter, Holdings Channel reports. The firm owned 367 shares of the company’s stock after selling 129 shares during the quarter. Nova Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LLY. Brighton Jones LLC increased its stake in Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,730 shares during the period. Revolve Wealth Partners LLC increased its stake in 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 worth $1,136,000 after purchasing an additional 40 shares during the period. Orion Capital Management LLC increased its stake in shares of Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock worth $1,243,000 after buying an additional 40 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company’s stock worth $49,993,000 after buying an additional 2,568 shares during the period. Finally, Breed s Hill Capital LLC increased its stake in shares of Eli Lilly and Company by 212.0% during the fourth quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company’s stock worth $1,101,000 after buying an additional 969 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Daiwa America lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 17th. Hsbc Global Res upgraded shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 27th. HSBC upgraded shares of Eli Lilly and Company from a “reduce” rating to a “hold” rating and upped their target price for the stock from $675.00 to $700.00 in a research note on Wednesday, August 27th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Cantor Fitzgerald cut their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $941.35.

Insiders Place Their Bets

In other news, Director Jamere Jackson acquired 200 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David A. Ricks acquired 1,632 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the acquisition, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $754.90 on Friday. The stock has a 50 day moving average price of $741.03 and a 200 day moving average price of $776.40. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $714.48 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.47. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $942.35.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 39.22%.

Eli Lilly and 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.