Cornerstone Wealth Management LLC Sells 1,132 Shares of Eli Lilly and Company $LLY

Cornerstone Wealth Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 20.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,410 shares of the company’s stock after selling 1,132 shares during the period. Cornerstone Wealth Management LLC’s holdings in Eli Lilly and Company were worth $5,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Torren Management LLC grew its position in shares of Eli Lilly and Company by 357.1% during the third quarter. Torren Management LLC now owns 32 shares of the company’s stock valued at $37,000 after purchasing an additional 25 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 60.0% in the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock worth $37,000 after buying an additional 15 shares in the last quarter. Foresight Capital Management Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth about $49,000. AlphaCentric Advisors LLC bought a new position in Eli Lilly and Company during the first quarter valued at approximately $42,000. Finally, Caitlin John LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth approximately $64,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 1.5%

Shares of LLY stock opened at $1,432.60 on Wednesday. The company has a market cap of $1.35 trillion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $850.51 and a 1 year high of $1,453.00. The stock’s 50 day simple moving average is $1,225.57 and its two-hundred day simple moving average is $1,104.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping analysts’ consensus estimates of $5.71 by $1.77. The firm had revenue of $24.40 billion during the quarter, compared to analysts’ expectations of $22.58 billion. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.02 EPS. Research analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared 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 is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 22.46%.

Analyst Ratings Changes

A number of research analysts have recently commented on LLY shares. Bank of America reiterated a “buy” rating and set a $1,497.00 target price on shares of Eli Lilly and Company in a research report on Friday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $1,650.00 price target on shares of Eli Lilly and Company in a research report on Friday, October 30th. Weiss Ratings downgraded shares of Eli Lilly and Company from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 30th. Leerink Partners increased their price objective on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,416.64.

View Our Latest Research Report on Eli Lilly and Company

Insiders Place Their Bets

In other Eli Lilly and Company news, 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 directly owned 4,137 shares of the company’s stock, valued at $5,802,225.24. The trade was a 54.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. This trade represents a 10.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by company insiders.

More Eli Lilly and Company News

Here are the key news stories impacting Eli Lilly and Company this week:

  • Positive Sentiment: Foundayo met the primary endpoint in a Phase 3 trial for obstructive sleep apnea, reducing breathing interruptions by up to an average of 44%. Lilly plans to seek FDA approval for the additional use by year-end, which could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
  • Positive Sentiment: Jefferies raised its price target to $1,700 and maintained a Buy rating, signaling continued analyst confidence in Lilly’s prospects. Jefferies price target
  • Positive Sentiment: Lilly’s agreement with Hims & Hers and a similar arrangement with LifeMD expands digital access to its branded obesity medicines, including Zepbound and Foundayo. Hims’ share-price decline following its own disappointing results appears company-specific; coverage reported Lilly holding steady. Yahoo Finance article
  • Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add warnings about a possible increased risk of NAION, a rare eye condition that can cause sudden, potentially permanent vision loss. The class-wide warning could raise safety concerns for patients and investors, though the condition is rare. CNBC article

Eli Lilly and Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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