Parker Investment Management LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Parker Investment Management LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 55.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,365 shares of the company’s stock after selling 6,777 shares during the quarter. Eli Lilly and Company comprises 0.8% of Parker Investment Management LLC’s portfolio, making the stock its 12th largest position. Parker Investment Management LLC’s holdings in Eli Lilly and Company were worth $4,754,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at approximately $30,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the second quarter valued at approximately $36,000. Morton Brown Family Wealth LLC lifted its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC grew its stake in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.7 %

NYSE:LLY opened at $813.33 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a market capitalization of $772.11 billion, a price-to-earnings ratio of 87.93, a price-to-earnings-growth ratio of 3.03 and a beta of 0.41. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The stock has a 50-day simple moving average of $847.28 and a 200 day simple moving average of $871.36.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Sell-side analysts predict that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.64%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Analyst Ratings Changes

LLY has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

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.