Eli Lilly and Company $LLY Shares Bought by Formidable Asset Management LLC

Formidable Asset Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 12.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,067 shares of the company’s stock after purchasing an additional 1,460 shares during the period. Eli Lilly and Company comprises about 2.2% of Formidable Asset Management LLC’s holdings, making the stock its 8th biggest holding. Formidable Asset Management LLC’s holdings in Eli Lilly and Company were worth $15,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Verus Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 3.2% during the third quarter. Verus Capital Partners LLC now owns 1,389 shares of the company’s stock valued at $1,607,000 after buying an additional 43 shares in the last quarter. Pegasus Asset Management Inc. lifted its stake in Eli Lilly and Company by 0.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 9,384 shares of the company’s stock worth $10,858,000 after acquiring an additional 78 shares in the last quarter. American Institute for Advanced Investment Management LLP lifted its stake in Eli Lilly and Company by 4.9% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 367 shares of the company’s stock worth $425,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC boosted its position in Eli Lilly and Company by 0.9% during the 3rd quarter. Parallel Advisors LLC now owns 32,230 shares of the company’s stock worth $37,292,000 after acquiring an additional 297 shares during the period. Finally, Tamar Securities LLC boosted its position in Eli Lilly and Company by 2.4% during the 3rd quarter. Tamar Securities LLC now owns 18,808 shares of the company’s stock worth $21,763,000 after acquiring an additional 447 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several research analyst reports. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Weiss Ratings lowered shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 30th. UBS Group raised their price target on shares of Eli Lilly and Company from $1,425.00 to $1,625.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Truist Financial restated a “buy” rating and set a $1,612.00 price target (up from $1,376.00) on shares of Eli Lilly and Company in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,404.14.

Key Eli Lilly and Company News

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 Price Performance

Shares of NYSE:LLY opened at $1,372.15 on Friday. The firm has a market cap of $1.29 trillion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 1.69 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $850.51 and a 1 year high of $1,453.00. 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 business has a fifty day simple moving average of $1,215.24 and a 200 day simple moving average of $1,101.16.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, beating 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 firm 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 company posted $7.02 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. As a group, sell-side analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company’s payout ratio is currently 22.46%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald Zakrowski sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the completion of the sale, the chief accounting officer owned 1,526 shares of the company’s stock, valued at approximately $1,808,325.26. The trade was a 56.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the 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 completion of the transaction, the executive vice president owned 4,137 shares in the company, valued at $5,802,225.24. This represents 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. In the last quarter, insiders sold 13,500 shares of company stock valued at $17,020,770. 0.14% of the stock is 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.

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