Wesbanco Bank Inc. Raises Holdings in Eli Lilly and Company $LLY

Key Points

• Wesbanco Bank Inc. increased its holdings in Eli Lilly and Company by 20.3% during the second quarter, raising its total shares to 28,561, valued at approximately $22.26 million.
• Eli Lilly reported a quarterly EPS of $6.31, exceeding analysts' expectations of $5.59, along with a revenue of $15.56 billion for the quarter, marking a 37.6% year-over-year increase.
• The company declared a quarterly dividend of $1.50 per share, representing a 0.8% dividend yield and reflecting a payout ratio of 39.22%.

Wesbanco Bank Inc. grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,561 shares of the company's stock after purchasing an additional 4,815 shares during the quarter. Wesbanco Bank Inc.'s holdings in Eli Lilly and Company were worth $22,264,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Hobbs Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after buying an additional 12 shares during the last quarter. Hixon Zuercher LLC grew its holdings in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after buying an additional 12 shares during the last quarter. O Brien Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 25.5% during the first 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 grew its holdings in shares of Eli Lilly and Company by 2.5% during the first 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 grew its holdings in shares of Eli Lilly and Company by 2.7% during the first 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. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY stock opened at $754.90 on Friday. The firm has a 50 day moving average of $741.03 and a 200-day moving average of $776.40. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $942.35. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a market cap of $714.48 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 1.05 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the firm earned $3.92 EPS. The company'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, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insider Activity at Eli Lilly and Company

In related news, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jamere Jackson purchased 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The shares were bought at an average price 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 in the company, 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 90 days, insiders acquired 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LLY shares. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft lowered their price target on 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. 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. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average price target of $941.35.

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.

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