36,440 Eli Lilly and Company $LLY Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 745,489 shares of the company’s stock after selling 36,440 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Russell Investments Group Ltd.’s portfolio, making the stock its 13th largest position. Russell Investments Group Ltd.’s holdings in Eli Lilly and Company were worth $864,989,000 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. Bank of America Corp DE acquired a new position in Eli Lilly and Company during the second quarter worth $13,522,666,000. Jupiter Topco LLC bought a new position in Eli Lilly and Company during the second quarter valued at about $4,667,180,000. Corient Private Wealth LP acquired a new stake in shares of Eli Lilly and Company in the second quarter worth about $764,116,000. BlackRock Inc. lifted its position in shares of Eli Lilly and Company by 1.6% in the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock worth $81,009,981,000 after buying an additional 1,046,558 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Eli Lilly and Company by 1.7% during the 2nd quarter. State Street Corp now owns 36,215,754 shares of the company’s stock worth $43,438,262,000 after acquiring an additional 605,752 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Latest Eli Lilly and Company News

Here’s some of the latest news about LLY:

• Positive Sentiment: China approved orforglipron, making Lilly the first company with an approved GLP-1 weight-loss pill in the country. The approval gives LLY a route into a large obesity-treatment market and a potential edge while rival oral treatments await regulatory decisions. Reuters article
• Positive Sentiment: New trial coverage points to broader potential for Lilly’s GLP-1 medicines: orforglipron reportedly showed promise for osteoarthritic knee pain, and Foundayo data indicated improvement in sleep apnea. These possible benefits could expand the drugs’ addressable markets, but further development and evidence remain important. Trial results coverage
• Negative Sentiment: Potential U.S. drug-price negotiations could pressure Lilly revenue, according to recent reporting. This policy risk may weigh on expectations even as the company expands its obesity portfolio. Drug-pricing risk report

Insider Activity at Eli Lilly and Company

In other news, EVP Anat Hakim sold 5,000 shares of the company’s 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 transaction of $7,012,600.00. Following the completion of the transaction, the executive vice president directly owned 4,137 shares in the company, valued at $5,802,225.24. The trade was a 54.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the 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 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 represents a 10.72% 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. Insiders own 0.14% of the company’s stock.

Eli Lilly and Company Trading Down 0.3%

Shares of NYSE:LLY opened at $1,433.34 on Friday. The company has a market cap of $1.35 trillion, a P/E ratio of 46.52, a P/E/G ratio of 1.72 and a beta of 0.40. The stock’s 50-day moving average is $1,236.58 and its 200-day moving average is $1,108.27. Eli Lilly and Company has a 52-week low of $850.51 and a 52-week high of $1,460.00. 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 (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping 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 business 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 firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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 $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 13th. Eli Lilly and Company’s payout ratio is currently 22.46%.

Analyst Ratings Changes

A number of research analysts have recently commented on LLY shares. BMO Capital Markets reissued an “outperform” rating and set a $1,650.00 price objective on shares of Eli Lilly and Company in a report on Friday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $1,413.00 target price on shares of Eli Lilly and Company in a report on Tuesday, October 20th. UBS Group upped their target price on Eli Lilly and Company from $1,425.00 to $1,625.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Weiss Ratings downgraded Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,450.00 price target on shares of Eli Lilly and Company in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,416.64.

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.