Parnassus Investments LLC Purchases 318 Shares of Eli Lilly and Company (NYSE:LLY)

Parnassus Investments LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 15.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,393 shares of the company’s stock after purchasing an additional 318 shares during the period. Parnassus Investments LLC’s holdings in Eli Lilly and Company were worth $2,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $30,000. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the second quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the second quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $727.57 on Tuesday. The business’s 50 day simple moving average is $879.04 and its 200 day simple moving average is $870.84. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a market cap of $690.70 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 2.82 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced 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 of this dividend 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 is presently 56.22%.

Analyst Ratings Changes

A number of equities analysts have issued reports on LLY shares. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Guggenheim upped their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays reduced their target price 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 note on Thursday, October 31st. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Company Profile

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.