Parsons Capital Management Inc. RI Sells 1,126 Shares of Eli Lilly and Company (NYSE:LLY)

Parsons Capital Management Inc. RI cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,154 shares of the company's stock after selling 1,126 shares during the period. Eli Lilly and Company comprises approximately 1.2% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 14th biggest holding. Parsons Capital Management Inc. RI's holdings in Eli Lilly and Company were worth $21,601,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $34.04 during trading hours on Tuesday, hitting $807.75. 4,738,640 shares of the stock were exchanged, compared to its average volume of 3,653,812. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market cap of $765.54 billion, a PE ratio of 68.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company's fifty day simple moving average is $769.95 and its two-hundred day simple moving average is $800.81.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

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.