Summit Financial LLC Boosts Stock Holdings in Eli Lilly and Company $LLY

Summit Financial LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,488 shares of the company’s stock after buying an additional 20 shares during the quarter. Summit Financial LLC’s holdings in Eli Lilly and Company were worth $10,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC boosted its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its holdings in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company in the first quarter worth approximately $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC boosted its holdings in Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.2%

LLY opened at $704.7540 on Thursday. 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 1-year low of $623.78 and a 1-year high of $972.53. The company has a market capitalization of $667.02 billion, a PE ratio of 46.06, a PEG ratio of 0.98 and a beta of 0.44. The firm’s 50 day simple moving average is $758.91 and its two-hundred day simple moving average is $792.41.

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

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company’s payout ratio is 39.22%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Morgan Stanley restated an “overweight” rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Cantor Fitzgerald dropped their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a report on Wednesday, August 13th. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $950.17.

Insider Activity at Eli Lilly and Company

In related news, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the acquisition, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Erik Fyrwald purchased 1,565 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares in the company, valued at $47,903,686.74. The trade was a 2.14% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,514 shares of company stock worth $2,894,841 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.