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

Parisi Gray Wealth Management grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,671 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Eli Lilly and Company comprises about 1.4% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 21st biggest holding. Parisi Gray Wealth Management’s holdings in Eli Lilly and Company were worth $4,378,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several brokerages have issued reports on LLY. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced 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. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $797.17 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company’s fifty day moving average price is $785.91 and its 200-day moving average price is $858.62. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The company has a market capitalization of $756.77 billion, a PE ratio of 86.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s payout ratio is presently 64.86%.

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

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.