Park Avenue Securities LLC Purchases 1,985 Shares of Eli Lilly and Company (NYSE:LLY)

Park Avenue Securities LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 13.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 17,194 shares of the company’s stock after buying an additional 1,985 shares during the quarter. Park Avenue Securities LLC’s holdings in Eli Lilly and Company were worth $13,376,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Lipe & Dalton bought a new position in Eli Lilly and Company in the 4th quarter worth $26,000. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Tidemark LLC bought a new position in Eli Lilly and Company in the fourth quarter worth about $29,000. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $37,000. Finally, Optiver Holding B.V. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $36,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $884.46 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The firm has a market cap of $840.60 billion, a price-to-earnings ratio of 130.26, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The business has a 50-day simple moving average of $798.59 and a two-hundred day simple moving average of $727.93. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $905.45.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.59%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 762,804 shares of company stock valued at $648,109,138 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LLY. Bank of America raised their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Citigroup boosted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 17th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Argus upped their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $803.50.

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.