Eli Lilly and Company $LLY Stock: Cabot Wealth Management Inc. Raises Stake

Cabot Wealth Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,987 shares of the company’s stock after buying an additional 1,569 shares during the quarter. Eli Lilly and Company comprises 1.7% of Cabot Wealth Management Inc.’s portfolio, making the stock its 16th largest holding. Cabot Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $18,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Eli Lilly and Company by 1.6% during the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock valued at $81,009,981,000 after acquiring an additional 1,046,558 shares in the last quarter. State Street Corp lifted its stake in Eli Lilly and Company by 1.7% in the 2nd 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 purchased a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Eli Lilly and Company by 1.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock valued at $8,647,153,000 after purchasing an additional 137,364 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Eli Lilly and Company by 7.9% during the 2nd quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock valued at $6,550,587,000 after purchasing an additional 400,538 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Key Headlines Impacting Eli Lilly and Company

Investors following LLY have been watching these headlines:

• Positive Sentiment: Lilly reported positive 52-week Phase 3b results for Taltz plus Zepbound in adults with psoriatic arthritis and obesity. Nearly three times as many combination-treatment patients achieved at least a 50% reduction in disease activity versus Taltz alone, potentially broadening Zepbound’s use and commercial opportunity. Article: Phase 3b Taltz and Zepbound results
• Positive Sentiment: Foundayo, Lilly’s GLP-1 weight-loss pill, was reported to have shown substantial improvement in sleep apnea, adding to the potential uses of the company’s obesity pipeline. Article: Foundayo and sleep apnea
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add a warning about rare NAION-related vision loss. Zepbound is among the medicines affected, creating a potential safety concern for Lilly’s key product category. Article: FDA warning on GLP-1 drugs

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the sale, the executive vice president owned 54,147 shares in the company, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the company’s stock in a transaction on 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 $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LLY shares. TD Cowen reaffirmed a “buy” rating and issued a $1,250.00 price target on shares of Eli Lilly and Company in a report on Tuesday, September 22nd. Bank of America reiterated a “buy” rating and issued a $1,497.00 price objective on shares of Eli Lilly and Company in a research report on Friday, October 30th. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Morgan Stanley boosted their target price on Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Scotiabank upped their target price on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,416.64.

Eli Lilly and Company Price Performance

LLY stock opened at $1,437.46 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. Eli Lilly and Company has a one year low of $850.51 and a one year high of $1,453.00. The stock has a market cap of $1.35 trillion, a PE ratio of 46.66, a P/E/G ratio of 1.72 and a beta of 0.40. The firm has a 50 day simple moving average of $1,231.13 and a two-hundred day simple moving average of $1,106.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, beating the consensus estimate of $5.71 by $1.77. The firm had revenue of $24.40 billion for the quarter, compared to analysts’ expectations of $22.58 billion. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company posted $7.02 EPS. On average, analysts predict that Eli Lilly and Company will post 35.67 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 given a dividend of $1.73 per share. 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%.

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.