Jessup Wealth Management Inc Buys 852 Shares of Eli Lilly and Company $LLY

Jessup Wealth Management Inc grew its stake in Eli Lilly and Company (NYSE:LLY) by 264.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,174 shares of the company’s stock after purchasing an additional 852 shares during the period. Jessup Wealth Management Inc’s holdings in Eli Lilly and Company were worth $915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company during the first quarter worth $27,000. Blume Capital Management Inc. lifted its holdings in shares of Eli Lilly and Company by 46.7% in the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock worth $34,000 after acquiring an additional 14 shares during the last quarter. IMG Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $35,000. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the 1st quarter valued at about $40,000. Finally, TD Capital Management LLC raised its position 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 purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, EVP Daniel Skovronsky bought 1,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president owned 137,660 shares of the company’s stock, valued at $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares in the company, valued at approximately $352,431,926.77. This represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. HSBC upped their target price on Eli Lilly and Company from $700.00 to $800.00 in a research note on Wednesday, October 1st. DZ Bank upgraded Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $840.00 to $930.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. The Goldman Sachs Group raised their price target on shares of Eli Lilly and Company from $876.00 to $879.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Morgan Stanley lowered their price objective on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Eli Lilly and Company Stock Performance

LLY stock opened at $862.96 on Friday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $935.63. The business has a 50-day moving average price of $780.74 and a 200 day moving average price of $771.71. The company has a market capitalization of $816.76 billion, a P/E ratio of 56.40, a PEG ratio of 1.21 and a beta of 0.47. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter last year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.7%. Eli Lilly and Company’s payout ratio is 39.22%.

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.