1,130 Eli Lilly and Company $LLY Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,175 shares of the company’s stock after purchasing an additional 1,130 shares during the period. Eli Lilly and Company makes up 0.7% of Illinois Municipal Retirement Fund’s holdings, making the stock its 14th biggest holding. Illinois Municipal Retirement Fund’s holdings in Eli Lilly and Company were worth $66,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northbridge Financial Group LLC grew its holdings in shares of Eli Lilly and Company by 2.1% during the 3rd quarter. Northbridge Financial Group LLC now owns 2,711 shares of the company’s stock worth $3,138,000 after purchasing an additional 56 shares during the period. Brooklyn FI LLC acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $714,000. Letson Investment Management Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $896,000. Knights of Columbus Asset Advisors LLC raised its holdings in Eli Lilly and Company by 16.3% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,269 shares of the company’s stock valued at $1,468,000 after buying an additional 178 shares during the period. Finally, Confluence Wealth Services Inc. raised its holdings in Eli Lilly and Company by 3.6% in the 3rd quarter. Confluence Wealth Services Inc. now owns 13,790 shares of the company’s stock valued at $15,955,000 after buying an additional 479 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Key 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

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of 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. Guggenheim lifted their price target on shares of Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Argus boosted their price target on shares of Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, October 30th. HSBC upped their price objective on shares of Eli Lilly and Company from $850.00 to $940.00 and gave the stock a “reduce” rating in a report on Thursday, September 10th. Finally, Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $1,610.00 to $1,700.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,416.64.

Eli Lilly and Company Price Performance

LLY stock opened at $1,432.60 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.35 trillion, a PE ratio of 46.50, a P/E/G 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 business’s fifty day moving average price is $1,225.57 and its 200 day moving average price is $1,104.56.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. During the same quarter in the prior year, the company earned $7.02 EPS. Eli Lilly and Company’s revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 35.70 EPS 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 paid a dividend of $1.73 per share. 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 is 22.46%.

Insider Activity

In other news, EVP Anat Hakim sold 5,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the sale, the executive vice president owned 4,137 shares of the company’s stock, valued at approximately $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. 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 Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the completion of the transaction, the executive vice president directly 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. 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 currently owned by corporate insiders.

About Eli Lilly and Company

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.