Parnassus Investments LLC Sells 51,922 Shares of Eli Lilly and Company $LLY

Key Points

• Parnassus Investments LLC sold 51,922 shares of Eli Lilly and Company, reducing its stake by 5.6%, and now holds 882,780 shares which make up 1.8% of its portfolio.
• Several institutional investors, including PNC Financial Services Group Inc. and Vanguard Group Inc., have significantly increased their holdings in Eli Lilly, reflecting strong institutional interest in the stock.
• Eli Lilly announced a quarterly dividend of $1.50 per share, with the dividend yield currently at 0.8%, following a strong earnings report that exceeded analysts' expectations.

Parnassus Investments LLC lessened its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 882,780 shares of the company's stock after selling 51,922 shares during the period. Eli Lilly and Company comprises 1.8% of Parnassus Investments LLC's portfolio, making the stock its 22nd largest holding. Parnassus Investments LLC owned about 0.09% of Eli Lilly and Company worth $729,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eli Lilly and Company by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,084,880 shares of the company's stock valued at $5,469,527,000 after purchasing an additional 969,376 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LLY. Guggenheim decreased their price objective on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a report on Monday, August 11th. HSBC raised shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $675.00 to $700.00 in a report on Wednesday. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a report on Wednesday. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $950.17.

Insiders Place Their Bets

In other news, Director Gabrielle Sulzberger purchased 117 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the transaction, the director directly owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David A. Ricks purchased 1,632 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $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. Over the last quarter, insiders purchased 4,514 shares of company stock valued at $2,894,841. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Down 0.3%

Shares of LLY stock opened at $732.25 on Friday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $969.65. The stock has a market cap of $693.05 billion, a P/E ratio of 47.86, a P/E/G ratio of 1.02 and a beta of 0.44. 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 50 day simple moving average of $749.30 and a two-hundred day simple moving average of $787.01.

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, 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 business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the prior year, the company earned $3.92 earnings per share. The firm's revenue 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. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 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.

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