Eli Lilly and Company $LLY Shares Purchased by Eastern Bank

Eastern Bank grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,674 shares of the company’s stock after acquiring an additional 15,293 shares during the quarter. Eli Lilly and Company comprises approximately 1.8% of Eastern Bank’s investment portfolio, making the stock its 14th largest holding. Eastern Bank’s holdings in Eli Lilly and Company were worth $96,408,000 as of its most recent SEC filing.

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

Insider Activity

In other Eli Lilly and Company news, Director Gabrielle Sulzberger bought 117 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the transaction, the director directly owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. This represents a 4.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David A. Ricks bought 1,632 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,514 shares of company stock worth $2,894,841. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Leerink Partnrs downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Morgan Stanley cut their price target on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Daiwa Capital Markets downgraded shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price target on the stock. in a report on Sunday, August 17th. Berenberg Bank reiterated a “hold” rating and issued a $830.00 price target (down previously from $970.00) on shares of Eli Lilly and Company in a report on Wednesday, September 17th. Finally, Guggenheim upped their price objective on Eli Lilly and Company from $875.00 to $948.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $948.56.

Eli Lilly and Company Trading Down 2.6%

Eli Lilly and Company stock opened at $833.08 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. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $937.00. The stock’s 50 day simple moving average is $742.42 and its two-hundred day simple moving average is $766.36. The firm has a market cap of $788.47 billion, a PE ratio of 54.45, a P/E/G ratio of 1.19 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the firm posted $3.92 EPS. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

About Eli Lilly and Company

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.