Ionic Capital Management LLC Invests $454,000 in Eli Lilly and Company $LLY

Key Points

• Ionic Capital Management LLC made a new investment in Eli Lilly and Company, purchasing 550 shares valued at approximately $454,000 in the first quarter.
• Insiders, including CEO David A. Ricks, have increased their positions in Eli Lilly, with Ricks buying 1,632 shares valued at over $1 million in August.
• Several analysts have revised their ratings and price targets for Eli Lilly, with a consensus target price of $950.17 and a majority rating it as a "Moderate Buy."

Ionic Capital Management LLC bought a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 550 shares of the company's stock, valued at approximately $454,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WestEnd Advisors LLC boosted its stake in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $27,000. Citizens National Bank Trust Department raised its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $40,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. HSBC upgraded shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and raised their price objective for the company from $675.00 to $700.00 in a research report on Wednesday, August 27th. Guggenheim reduced their price target on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $950.17.

Eli Lilly and Company Trading Down 2.2%

LLY stock traded down $16.56 during midday trading on Friday, reaching $726.35. 3,953,474 shares of the company traded hands, compared to its average volume of 5,282,453. The firm has a market capitalization of $687.46 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 1.01 and a beta of 0.47. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $942.35. The business has a 50 day moving average of $743.84 and a 200-day moving average of $781.22. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The firm 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 company's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

Insider Activity at Eli Lilly and Company

In other news, Director Gabrielle Sulzberger purchased 117 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David A. Ricks acquired 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares in the company, valued at $352,431,926.77. This trade represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock worth $2,894,841 in the last three months. 0.13% of the stock is owned by insiders.

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.