Eli Lilly and Company (NYSE:LLY) Shares Sold by Park Place Capital Corp

Park Place Capital Corp trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,787 shares of the company’s stock after selling 39 shares during the period. Park Place Capital Corp’s holdings in Eli Lilly and Company were worth $1,476,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Diversified Trust Co raised its position in shares of Eli Lilly and Company by 13.3% in the 1st quarter. Diversified Trust Co now owns 16,615 shares of the company’s stock valued at $13,723,000 after purchasing an additional 1,955 shares in the last quarter. Beacon Financial Advisory LLC raised its position in shares of Eli Lilly and Company by 32.9% in the 1st quarter. Beacon Financial Advisory LLC now owns 372 shares of the company’s stock valued at $307,000 after purchasing an additional 92 shares in the last quarter. Hidden Cove Wealth Management LLC raised its position in shares of Eli Lilly and Company by 25.0% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 345 shares of the company’s stock valued at $285,000 after purchasing an additional 69 shares in the last quarter. Tanager Wealth Management LLP acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at approximately $259,000. Finally, Elite Life Management LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at approximately $234,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, UBS Group dropped their price target on 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. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,011.61.

Eli Lilly and Company Price Performance

Shares of LLY opened at $776.18 on Friday. The company has a market cap of $735.61 billion, a P/E ratio of 63.16, a PEG ratio of 1.16 and a beta of 0.40. The stock has a fifty day moving average price of $780.19 and a 200 day moving average price of $799.94. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 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 return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is 48.82%.

About Eli Lilly and Company

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.