Park Avenue Securities LLC Has $19.54 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Park Avenue Securities LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 22.8% during the 1st quarter, HoldingsChannel reports. The fund owned 23,661 shares of the company’s stock after buying an additional 4,387 shares during the period. Park Avenue Securities LLC’s holdings in Eli Lilly and Company were worth $19,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Knightsbridge Asset Management LLC grew its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock worth $628,000 after acquiring an additional 15 shares during the last quarter. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $514,000. LS Investment Advisors LLC grew its stake in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $1,933,000 after acquiring an additional 40 shares during the last quarter. Kentucky Trust Co bought a new position in Eli Lilly and Company in the fourth quarter worth $834,000. Finally, CSM Advisors LLC lifted its position in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value 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. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of several research reports. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Up 0.6%

Shares of NYSE LLY opened at $770.00 on Friday. The stock has a market cap of $729.76 billion, a PE ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The business has a fifty day moving average of $770.87 and a two-hundred day moving average of $800.27. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm’s revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share 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, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

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.