Parr Mcknight Wealth Management Group LLC Makes New $4.72 Million Investment in Eli Lilly and Company (NYSE:LLY)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,112 shares of the company's stock, valued at approximately $4,719,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC grew its holdings in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares in the last quarter. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $514,000. Kentucky Trust Co acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $834,000. CSM Advisors LLC grew its holdings in Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after acquiring an additional 245 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after buying an additional 1,562 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LLY. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insider Transactions at Eli Lilly and Company

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

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $714.84 on Friday. 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 stock has a market cap of $677.48 billion, a PE ratio of 61.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The firm's fifty day simple moving average is $791.44 and its 200-day simple moving average is $803.64.

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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.84%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.

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