Parisi Gray Wealth Management Raises Stake in Eli Lilly and Company (NYSE:LLY)

Parisi Gray Wealth Management grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,671 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Eli Lilly and Company accounts for approximately 1.4% of Parisi Gray Wealth Management’s holdings, making the stock its 21st biggest holding. Parisi Gray Wealth Management’s holdings in Eli Lilly and Company were worth $4,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Pallas Capital Advisors LLC raised its position in Eli Lilly and Company by 2.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,149 shares of the company’s stock worth $13,239,000 after purchasing an additional 463 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of Eli Lilly and Company by 89.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 13,313 shares of the company’s stock valued at $10,277,000 after acquiring an additional 6,294 shares during the last quarter. Sunflower Bank N.A. lifted its stake in shares of Eli Lilly and Company by 3.2% in the 4th quarter. Sunflower Bank N.A. now owns 1,800 shares of the company’s stock valued at $1,390,000 after acquiring an additional 56 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in Eli Lilly and Company by 23.8% during the 4th quarter. Davis Investment Partners LLC now owns 1,061 shares of the company’s stock valued at $849,000 after acquiring an additional 204 shares during the period. Finally, Elevated Capital Advisors LLC grew its position in Eli Lilly and Company by 48.2% during the 4th quarter. Elevated Capital Advisors LLC now owns 2,022 shares of the company’s stock worth $1,561,000 after acquiring an additional 658 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 0.3 %

NYSE:LLY opened at $797.17 on Tuesday. The firm has a market capitalization of $756.77 billion, a P/E ratio of 86.18, a PEG ratio of 2.99 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The company’s 50-day simple moving average is $785.91 and its 200 day simple moving average is $858.62.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. As a group, analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on LLY shares. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.