13,561 Eli Lilly and Company $LLY Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 143,640 shares of the company’s stock after buying an additional 13,561 shares during the period. Eli Lilly and Company makes up 0.4% of Rakuten Investment Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Rakuten Investment Management Inc.’s holdings in Eli Lilly and Company were worth $170,160,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LLY. MFG Investments LLC acquired a new position in Eli Lilly and Company in the third quarter worth about $773,000. Third View Private Wealth LLC boosted its holdings in Eli Lilly and Company by 5.7% during the third quarter. Third View Private Wealth LLC now owns 2,049 shares of the company’s stock valued at $2,371,000 after purchasing an additional 111 shares in the last quarter. Provenance Wealth Advisors LLC boosted its holdings in Eli Lilly and Company by 5,300.0% during the third quarter. Provenance Wealth Advisors LLC now owns 1,350 shares of the company’s stock valued at $1,562,000 after purchasing an additional 1,325 shares in the last quarter. Ackerman Capital Advisors LLC boosted its holdings in Eli Lilly and Company by 19.7% during the third quarter. Ackerman Capital Advisors LLC now owns 322 shares of the company’s stock valued at $373,000 after purchasing an additional 53 shares in the last quarter. Finally, One Day In July LLC grew its stake in shares of Eli Lilly and Company by 1.6% in the 3rd quarter. One Day In July LLC now owns 567 shares of the company’s stock valued at $656,000 after purchasing an additional 9 shares during the period. Institutional investors own 82.53% of the company’s stock.

More Eli Lilly and Company News

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

Eli Lilly and Company Stock Up 0.6%

Shares of NYSE LLY opened at $1,418.14 on Thursday. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,449.68. The firm’s 50-day simple moving average is $1,207.75 and its 200 day simple moving average is $1,097.85. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.33 trillion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping analysts’ consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The company had revenue of $24.40 billion during the quarter, compared to the consensus estimate of $22.58 billion. During the same period in the previous year, the firm posted $7.02 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. On average, research analysts expect 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 paid 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 of this dividend is Friday, November 13th. Eli Lilly and Company’s dividend payout ratio is 22.46%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LLY. Cantor Fitzgerald boosted their price target on Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial reiterated a “buy” rating and issued a $1,612.00 price target (up from $1,376.00) on shares of Eli Lilly and Company in a research report on Friday, October 30th. JPMorgan Chase & Co. increased their price objective on Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Scotiabank lifted their price objective on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the company a “sector outperform” rating in a report on Friday, October 30th. Finally, Guggenheim lifted their price objective on Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the company a “buy” rating in a report on Friday, September 18th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,404.14.

Insider Activity

In related news, EVP Patrik Jonsson sold 6,500 shares of the business’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 sale, the executive vice president directly owned 54,147 shares of the company’s stock, valued at $63,628,139.70. The trade was 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, EVP Anat Hakim sold 5,000 shares of the stock in a transaction that occurred 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 $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,500 shares of company stock valued at $22,970,770 over the last 90 days. 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.