Park Place Capital Corp Sells 444 Shares of Eli Lilly and Company (NYSE:LLY)

Park Place Capital Corp trimmed its position in Eli Lilly and Company (NYSE:LLY) by 15.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,348 shares of the company’s stock after selling 444 shares during the period. Park Place Capital Corp’s holdings in Eli Lilly and Company were worth $2,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Lipe & Dalton bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC boosted its stake in Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

LLY stock traded down $27.98 during midday trading on Friday, reaching $804.46. 3,515,933 shares of the company’s stock traded hands, compared to its average volume of 3,316,491. The company has a 50-day moving average price of $870.80 and a two-hundred day moving average price of $790.05. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 52 week low of $446.89 and a 52 week high of $966.10. The firm has a market capitalization of $764.57 billion, a PE ratio of 118.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, July 24th. Berenberg Bank lifted their price target on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. The Goldman Sachs Group lifted their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Finally, Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $858.72.

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.