Eli Lilly and Company $LLY Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Eli Lilly and Company (NYSE:LLY) by 3.9% in the third quarter, HoldingsChannel.com reports. The fund owned 104,731 shares of the company’s stock after selling 4,283 shares during the quarter. Eli Lilly and Company comprises 2.3% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 6th biggest position. Kornitzer Capital Management Inc. KS’s holdings in Eli Lilly and Company were worth $121,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings 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 valued at $81,009,981,000 after purchasing an additional 1,046,558 shares in the last quarter. State Street Corp boosted its stake in Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock worth $43,438,262,000 after purchasing an additional 605,752 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Eli Lilly and Company during the second quarter worth $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 purchasing an additional 137,364 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Eli Lilly and Company by 7.9% during the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock worth $6,550,587,000 after purchasing an additional 400,538 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the transaction, the executive vice president owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. This trade represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald A. Zakrowski sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the completion of the transaction, the chief accounting officer directly owned 1,526 shares in the company, valued at $1,808,325.26. This trade represents a 56.72% 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 sold a total of 13,500 shares of company stock worth $17,020,770 over the last three months. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their price target on Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a report on Friday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,413.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, October 20th. Bank of America reissued a “buy” rating and set a $1,497.00 price objective on shares of Eli Lilly and Company in a report on Friday, October 30th. Berenberg Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price objective for the company in a research report on Tuesday, September 15th. Finally, Citigroup boosted their target price on shares of Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,404.14.

Eli Lilly and Company Stock Up 0.5%

Shares of LLY opened at $1,372.15 on Friday. The business’s fifty day moving average price is $1,215.24 and its two-hundred day moving average price is $1,101.16. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 44.54, a PEG ratio of 1.69 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $850.51 and a 52 week high of $1,453.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping analysts’ consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The company had revenue of $24.40 billion during the quarter, compared to the consensus estimate of $22.58 billion. During the same quarter in the previous year, the company posted $7.02 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. On average, analysts predict 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. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 22.46%.

Key Stories Impacting Eli Lilly and Company

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

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.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.