Jackson Wealth Management LLC Has $5.05 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Jackson Wealth Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,495 shares of the company’s stock after buying an additional 164 shares during the period. Jackson Wealth Management LLC’s holdings in Eli Lilly and Company were worth $5,053,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LLY. North Point Portfolio Managers Corp OH lifted its holdings in shares of Eli Lilly and Company by 29.3% during the fourth quarter. North Point Portfolio Managers Corp OH now owns 679 shares of the company’s stock worth $396,000 after purchasing an additional 154 shares during the period. LVZ Inc. lifted its holdings in shares of Eli Lilly and Company by 52.7% during the fourth quarter. LVZ Inc. now owns 835 shares of the company’s stock worth $487,000 after purchasing an additional 288 shares during the period. Trust Point Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at $2,147,000. Richard W. Paul & Associates LLC lifted its holdings in Eli Lilly and Company by 28.2% in the fourth quarter. Richard W. Paul & Associates LLC now owns 1,167 shares of the company’s stock valued at $680,000 after buying an additional 257 shares during the period. Finally, Washburn Capital Management Inc. lifted its holdings in Eli Lilly and Company by 27.6% in the fourth quarter. Washburn Capital Management Inc. now owns 2,713 shares of the company’s stock valued at $1,581,000 after buying an additional 587 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $27.98 during trading hours on Friday, reaching $804.46. The stock had a trading volume of 3,515,933 shares, compared to its average volume of 3,316,491. The stock has a market cap of $764.57 billion, a P/E ratio of 118.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $446.89 and a 12-month high of $966.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a 50 day simple moving average of $870.80 and a 200 day simple moving average of $788.92.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $858.72.

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.