Eli Lilly and Company $LLY Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,093 shares of the company’s stock after selling 1,100 shares during the period. Eli Lilly and Company comprises approximately 1.4% of Palisade Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Palisade Asset Management LLC’s holdings in Eli Lilly and Company were worth $15,150,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Verus Capital Partners LLC grew its holdings in Eli Lilly and Company by 3.2% during the 3rd 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 during the last quarter. Pegasus Asset Management Inc. raised its holdings in shares of Eli Lilly and Company by 0.8% in the third 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 during the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in shares of Eli Lilly and Company by 4.9% in the third 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 during the last quarter. Parallel Advisors LLC lifted its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Parallel Advisors LLC now owns 32,230 shares of the company’s stock valued at $37,292,000 after acquiring an additional 297 shares in the last quarter. Finally, Tamar Securities LLC lifted its position in shares of Eli Lilly and Company by 2.4% in the third quarter. Tamar Securities LLC now owns 18,808 shares of the company’s stock valued at $21,763,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.5%

Shares of NYSE:LLY opened at $1,372.15 on Friday. The stock’s 50-day moving average price is $1,215.24 and its two-hundred day moving average price is $1,101.16. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,453.00. The firm has a market cap 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 (NYSE:LLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, beating 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 company had revenue of $24.40 billion during the quarter, compared to analysts’ expectations of $22.58 billion. During the same quarter in the previous year, the business earned $7.02 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 13th. This represents a $6.92 annualized dividend and a dividend yield of 0.5%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 22.46%.

Analysts Set New Price Targets

A number of research firms recently commented on LLY. Royal Bank Of Canada increased their price objective on Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. TD Cowen reissued a “buy” rating and issued a $1,250.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. The Goldman Sachs Group reissued 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. Weiss Ratings lowered shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,650.00 price target on shares of Eli Lilly and Company in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,404.14.

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

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 1,526 shares of the company’s stock, valued at $1,808,325.26. This trade represents a 56.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Eli Lilly and Company 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 completion of the transaction, the executive vice president owned 4,137 shares in the company, valued at approximately $5,802,225.24. This trade 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. Over the last three months, insiders sold 13,500 shares of company stock worth $17,020,770. 0.14% of the stock is owned by company insiders.

Eli Lilly and Company 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.