Jackson Wealth Management LLC Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Jackson Wealth Management LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 69.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,629 shares of the company’s stock after buying an additional 2,723 shares during the quarter. Jackson Wealth Management LLC’s holdings in Eli Lilly and Company were worth $5,873,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Morton Brown Family Wealth LLC raised its position in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. BMO Capital Markets raised their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,002.24.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $891.66 on Friday. The company’s fifty day moving average price is $921.12 and its 200 day moving average price is $860.74. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53. The stock has a market capitalization of $847.44 billion, a P/E ratio of 131.32, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company 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.