Pinnacle Associates Ltd. Buys 797 Shares of Eli Lilly and Company $LLY

Pinnacle Associates Ltd. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,182 shares of the company’s stock after acquiring an additional 797 shares during the period. Pinnacle Associates Ltd.’s holdings in Eli Lilly and Company were worth $42,237,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LLY. PNC Financial Services Group Inc. boosted its holdings in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Nuveen LLC bought a new stake in Eli Lilly and Company in the first quarter valued at $4,613,912,000. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Eli Lilly and Company by 106.8% in the second 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Eli Lilly and Company by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LLY shares. Leerink Partnrs cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. The Goldman Sachs Group boosted their target price on shares of Eli Lilly and Company from $876.00 to $879.00 and gave the company a “buy” rating in a report on Friday, October 10th. Leerink Partners restated a “market perform” rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Guggenheim restated a “buy” rating and set a $948.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 16th. Finally, UBS Group dropped their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $936.47.

Insider Transactions at Eli Lilly and Company

In related news, Director Gabrielle Sulzberger purchased 117 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director directly owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,514 shares of company stock worth $2,894,841 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $842.28 on Friday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $935.63. The stock has a market cap of $797.18 billion, a PE ratio of 55.05, a price-to-earnings-growth ratio of 1.21 and a beta of 0.47. 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 company’s fifty day moving average price is $777.69 and its 200-day moving average price is $770.84.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.60. The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $16.09 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Eli Lilly and Company’s payout ratio is currently 39.22%.

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.