Palumbo Wealth Management LLC Has $774,000 Stock Position in Eli Lilly and Company $LLY

Palumbo Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 99.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 993 shares of the company’s stock after acquiring an additional 496 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Eli Lilly and Company were worth $774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. increased its position in Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after buying an additional 81,587 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Eli Lilly and Company by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after buying an additional 682,203 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the transaction, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David A. Ricks bought 1,632 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on LLY shares. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective on the stock. in a research report on Sunday, August 17th. Wall Street Zen lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Cantor Fitzgerald reduced their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Leerink Partners reiterated a “market perform” rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a report on Thursday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $939.61.

Eli Lilly and Company Stock Down 0.6%

Eli Lilly and Company stock opened at $742.51 on Thursday. 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 has a fifty-two week low of $623.78 and a fifty-two week high of $939.30. The firm has a fifty day moving average price of $736.05 and a two-hundred day moving average price of $768.68. The firm has a market cap of $702.75 billion, a price-to-earnings ratio of 48.53, a P/E/G ratio of 1.04 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the company posted $3.92 earnings per share. The firm’s revenue for the quarter 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, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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.