Riverbend Wealth Management LLC Increases Holdings in Eli Lilly and Company $LLY

Riverbend Wealth Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 49.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,660 shares of the company’s stock after buying an additional 551 shares during the period. Eli Lilly and Company accounts for approximately 1.0% of Riverbend Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. Riverbend Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. WestEnd Advisors LLC increased its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $27,000. Citizens National Bank Trust Department grew its stake in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Finally, TD Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 129.2% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the company’s stock worth $46,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LLY shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eli Lilly and Company in a report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on Eli Lilly and Company from $876.00 to $879.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Leerink Partnrs cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Hsbc Global Res raised shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $939.12.

Insiders Place Their Bets

In other Eli Lilly and Company news, Director J Erik Fyrwald purchased 1,565 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director directly owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. This represents a 2.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Skovronsky purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the purchase, the executive vice president owned 137,660 shares of the company’s stock, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading Down 1.0%

Shares of NYSE LLY opened at $818.45 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $774.63 billion, a PE ratio of 53.49, a PEG ratio of 1.18 and a beta of 0.47. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $935.63. The stock has a fifty day simple moving average of $749.52 and a 200-day simple moving average of $766.23.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period last year, the business posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.