Parnassus Investments LLC Has $2.12 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Parnassus Investments LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,393 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Parnassus Investments LLC’s holdings in Eli Lilly and Company were worth $2,120,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LLY. International Assets Investment Management LLC grew its stake in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Pathway Financial Advisers LLC increased its stake in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after acquiring an additional 1,021,287 shares during the last quarter. Wulff Hansen & CO. raised its position in Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. Finally, Comerica Bank lifted its stake in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LLY shares. Citigroup lifted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday. They issued an “outperform” rating and a $1,000.00 price target on the stock. Finally, Barclays lowered their price objective 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 report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $727.57 on Tuesday. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $690.70 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. The business has a 50-day moving average of $879.04 and a 200-day moving average of $870.84.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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.