Secure Asset Management LLC Has $3.95 Million Stock Position in Eli Lilly and Company $LLY

Key Points

• Secure Asset Management LLC raised its stake in Eli Lilly and Company by 29.7% in the second quarter, holding 5,069 shares worth approximately $3.95 million.
• Wall Street analysts have adjusted their price targets for Eli Lilly, with UBS lowering their target from $1,050 to $895, while Morgan Stanley affirmed an overweight rating with a target of $1,135.
• Eli Lilly recently reported earnings of $6.31 EPS for the quarter, surpassing estimates, with revenue growth of 37.6% year-over-year.

Secure Asset Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 29.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,069 shares of the company's stock after purchasing an additional 1,162 shares during the quarter. Eli Lilly and Company comprises about 0.7% of Secure Asset Management LLC's portfolio, making the stock its 25th biggest holding. Secure Asset Management LLC's holdings in Eli Lilly and Company were worth $3,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of LLY. Hobbs Wealth Management LLC boosted its stake in Eli Lilly and Company by 0.8% in the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after purchasing an additional 12 shares during the period. Hixon Zuercher LLC lifted its position in shares of Eli Lilly and Company by 0.7% during the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after acquiring an additional 12 shares during the period. O Brien Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the last quarter. Ascent Capital Management LLC lifted its position in shares of Eli Lilly and Company by 2.5% during the 1st quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after buying an additional 12 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners lifted its position in shares of Eli Lilly and Company by 2.7% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 493 shares of the company's stock worth $407,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In related news, CEO David A. Ricks purchased 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer owned 546,601 shares in the company, valued at approximately $352,431,926.77. This represents a 0.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jamere Jackson purchased 200 shares of the firm's 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 purchase, the director owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LLY. Guggenheim dropped their price objective on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Daiwa America downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Leerink Partners reiterated a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $939.61.

Eli Lilly and Company Trading Up 0.4%

Eli Lilly and Company stock traded up $2.71 during trading hours on Thursday, hitting $762.84. The stock had a trading volume of 3,457,131 shares, compared to its average volume of 3,189,642. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market cap of $722.00 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 1.06 and a beta of 0.47. Eli Lilly and Company has a one year low of $623.78 and a one year high of $939.86. The business's 50 day simple moving average is $739.17 and its 200-day simple moving average is $772.98.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

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.