Parsons Capital Management Inc. RI Purchases 2,060 Shares of Eli Lilly and Company (NYSE:LLY)

Parsons Capital Management Inc. RI increased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,280 shares of the company's stock after acquiring an additional 2,060 shares during the period. Eli Lilly and Company comprises about 1.1% of Parsons Capital Management Inc. RI's holdings, making the stock its 15th largest holding. Parsons Capital Management Inc. RI's holdings in Eli Lilly and Company were worth $21,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC boosted its holdings 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 valued at $41,000 after acquiring an additional 16 shares during the period. Finally, West Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LLY. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price objective on the stock. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price for the company. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $997.22.

Eli Lilly and Company Trading Up 2.4 %

NYSE:LLY traded up $19.51 during mid-day trading on Thursday, hitting $823.59. The company had a trading volume of 2,641,691 shares, compared to its average volume of 3,922,107. The firm has a market cap of $781.85 billion, a P/E ratio of 89.04, a P/E/G ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. The business's fifty day moving average is $780.80 and its two-hundred day moving average is $845.98. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the business posted $0.10 earnings per share. The company's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.73%. Eli Lilly and Company's payout ratio is currently 56.22%.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

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.