Parallel Advisors LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Parallel Advisors LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,973 shares of the company’s stock after purchasing an additional 2,696 shares during the quarter. Eli Lilly and Company comprises 0.5% of Parallel Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Parallel Advisors LLC’s holdings in Eli Lilly and Company were worth $23,928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. lifted its stake in Eli Lilly and Company by 358.3% in 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 in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $50,000. Finally, Fiduciary Advisors Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. UBS Group lowered their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Up 0.2%

Shares of Eli Lilly and Company stock opened at $720.91 on Friday. 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 stock has a market capitalization of $683.24 billion, a PE ratio of 61.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a 50-day simple moving average of $779.13 and a two-hundred day simple moving average of $800.51.

Eli Lilly and Company (NYSE:LLY) last issued its 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). The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. During the same period last year, the firm posted $2.58 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company’s payout ratio is 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.