Provenance Wealth Advisors LLC Buys 1,325 Shares of Eli Lilly and Company $LLY

Provenance Wealth Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 5,300.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the company’s stock after purchasing an additional 1,325 shares during the period. Provenance Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,562,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. raised its position in shares of Eli Lilly and Company by 60.0% during the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock worth $37,000 after acquiring an additional 15 shares during the last quarter. Torren Management LLC lifted its stake in shares of Eli Lilly and Company by 357.1% during the third quarter. Torren Management LLC now owns 32 shares of the company’s stock valued at $37,000 after acquiring an additional 25 shares during the period. AlphaCentric Advisors LLC bought a new position in Eli Lilly and Company in the first quarter valued at about $42,000. Foresight Capital Management Advisors Inc. bought a new position in Eli Lilly and Company in the third quarter valued at about $49,000. Finally, Caitlin John LLC bought a new position in Eli Lilly and Company in the second quarter valued at about $64,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company News Roundup

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

• Positive Sentiment: A report says Cantor Fitzgerald raised its price target to $1,600 from $1,440 and kept an “overweight” rating, adding to analyst optimism. Cantor Fitzgerald price-target update
• Positive Sentiment: Lilly advanced a next-generation obesity treatment into a Phase 3 study. Further progress could strengthen its pipeline beyond current weight-loss drugs, although the report provides limited trial details. Lilly advances Phase 3 obesity study
• Positive Sentiment: ETFs reportedly bought about $105 million of LLY shares on Nov. 2, suggesting institutional fund demand that may support the stock. ETF purchases of Lilly shares
• Positive Sentiment: In a challenge brought by Lilly, the National Advertising Division recommended that Good Life Meds stop or revise certain claims about compounded tirzepatide products. The recommendation could help Lilly contest marketing by compounded-drug competitors. Advertising claims recommendation
• Neutral Sentiment: EVP Anat Hakim sold 5,000 shares under a pre-arranged Rule 10b5-1 plan. The sale is notable, though the planned nature makes it less clear as a signal about the company’s outlook. Insider sale report
• Negative Sentiment: Recent commentary questions the quality and durability of Lilly’s growth, citing possible one-off revenue benefits and lower realized prices. With expectations and valuation elevated, any deceleration could pressure the shares. Revenue growth quality concerns

Wall Street Analyst Weigh In

A number of research firms have issued reports on LLY. Royal Bank Of Canada upped their target price on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,413.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, October 20th. Citigroup boosted their price target 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. Morgan Stanley boosted their price target on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Finally, Bank of America restated a “buy” rating and issued a $1,497.00 price objective on shares of Eli Lilly and Company in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,404.14.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $1,418.14 on Thursday. 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 has a twelve month low of $850.51 and a twelve month high of $1,449.68. The firm’s 50 day moving average price is $1,207.75 and its two-hundred day moving average price is $1,097.85. The firm has a market cap of $1.33 trillion, a P/E ratio of 46.03, a PEG ratio of 1.76 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 company had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. During the same period in the previous year, the company posted $7.02 earnings per share. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insider Activity

In other news, EVP Patrik Jonsson sold 6,500 shares of the firm’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 directly owned 54,147 shares of the company’s stock, valued at $63,628,139.70. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald Zakrowski sold 2,000 shares of Eli Lilly and Company stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the transaction, the chief accounting officer directly owned 1,526 shares of the company’s stock, valued at approximately $1,808,325.26. This trade represents a 56.72% 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. In the last ninety days, insiders have sold 18,500 shares of company stock valued at $22,970,770. 0.14% of the stock is owned by company insiders.

About Eli Lilly and Company

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company’s portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer’s disease.