Park Edge Advisors LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Park Edge Advisors LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,757 shares of the company's stock after selling 367 shares during the period. Park Edge Advisors LLC's holdings in Eli Lilly and Company were worth $1,451,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after buying an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $48,000. Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $50,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $63,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $0.71 during midday trading on Thursday, hitting $765.13. 3,632,853 shares of the company's stock were exchanged, compared to its average volume of 3,644,547. The stock has a market cap of $725.14 billion, a price-to-earnings ratio of 65.34, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The firm's 50 day simple moving average is $772.75 and its 200 day simple moving average is $799.41. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

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

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

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.