Parr Mcknight Wealth Management Group LLC Sells 1,347 Shares of Eli Lilly and Company (NYSE:LLY)

Parr Mcknight Wealth Management Group LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,765 shares of the company's stock after selling 1,347 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Eli Lilly and Company were worth $3,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Knightsbridge Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after acquiring an additional 15 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after acquiring an additional 40 shares in the last quarter. CSM Advisors LLC boosted its position in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after buying an additional 1,562 shares during the last quarter. Finally, Bfsg LLC boosted its position in shares of Eli Lilly and Company by 1.4% during the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after buying an additional 42 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $787.00 on Thursday. The stock's 50-day simple moving average is $767.12 and its 200 day simple moving average is $800.05. The stock has a market capitalization of $745.87 billion, a price-to-earnings ratio of 64.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company's payout ratio is currently 48.82%.

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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