Jessup Wealth Management Inc Raises Position in Eli Lilly and Company (NYSE:LLY)

Jessup Wealth Management Inc lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 392 shares of the company’s stock after buying an additional 19 shares during the period. Jessup Wealth Management Inc’s holdings in Eli Lilly and Company were worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inscription Capital LLC lifted its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp boosted its stake in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Detalus Advisors LLC raised its holdings in Eli Lilly and Company by 1.7% during the third quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock worth $707,000 after purchasing an additional 13 shares during the last quarter. PSI Advisors LLC increased its position in shares of Eli Lilly and Company by 0.4% in the third quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock valued at $2,576,000 after buying an additional 13 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its stake in Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.1 %

NYSE:LLY opened at $866.69 on Thursday. The business’s 50-day moving average is $797.80 and its two-hundred day moving average is $845.87. The firm has a market capitalization of $822.77 billion, a PE ratio of 74.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $997.50.

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.