Parsons Capital Management Inc. RI Cuts Position in Eli Lilly and Company $LLY

Key Points

• Parsons Capital Management Inc. RI has reduced its stake in Eli Lilly and Company by 9.4%, holding 23,695 shares valued at approximately $18.5 million.
• Several hedge funds have made adjustments to their holdings in Eli Lilly, with Duquesne Family Office LLC increasing its position by 52.5%, now owning over 94,000 shares.
• Eli Lilly reported strong quarterly earnings, with $6.31 EPS and a revenue of $15.56 billion, exceeding analysts' expectations.

Parsons Capital Management Inc. RI lowered its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,695 shares of the company's stock after selling 2,459 shares during the period. Eli Lilly and Company comprises 1.1% of Parsons Capital Management Inc. RI's portfolio, making the stock its 13th largest holding. Parsons Capital Management Inc. RI's holdings in Eli Lilly and Company were worth $18,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LLY. Duquesne Family Office LLC grew its position in shares of Eli Lilly and Company by 52.5% in the first quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock valued at $78,321,000 after purchasing an additional 32,640 shares during the last quarter. Corient IA LLC purchased a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $570,000. LS Investment Advisors LLC grew its holdings in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. Cutter Capital Management LP acquired a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $14,866,000. Finally, Emerald Advisors LLC lifted its stake in shares of Eli Lilly and Company by 60.8% during the second quarter. Emerald Advisors LLC now owns 1,021 shares of the company's stock valued at $796,000 after buying an additional 386 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In related news, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director owned 2,703 shares of the company's stock, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the acquisition, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Up 8.2%

Shares of LLY stock opened at $825.92 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $937.00. The firm's 50 day moving average price is $733.71 and its two-hundred day moving average price is $766.37. The stock has a market cap of $781.70 billion, a price-to-earnings ratio of 53.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Daiwa America lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. Cantor Fitzgerald decreased their price target on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 13th. Finally, Wall Street Zen cut Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $939.61.

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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