Parallel Advisors LLC Buys 2,696 Shares of Eli Lilly and Company (NYSE:LLY)

Parallel Advisors LLC lifted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,973 shares of the company's stock after acquiring an additional 2,696 shares during the quarter. Eli Lilly and Company accounts for approximately 0.5% of Parallel Advisors LLC's investment portfolio, making the stock its 26th largest holding. Parallel Advisors LLC's holdings in Eli Lilly and Company were worth $23,928,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LLY. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company during the fourth quarter worth about $48,000. Compass Financial Services Inc acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $50,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $58,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $15.76 during trading hours on Friday, hitting $738.33. The company had a trading volume of 6,102,436 shares, compared to its average volume of 3,643,048. The firm has a market cap of $699.74 billion, a P/E ratio of 63.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The business has a fifty day simple moving average of $776.85 and a 200-day simple moving average of $799.96.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company's revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

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.