Eli Lilly and Company (NYSE:LLY) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its stake in Eli Lilly and Company (NYSE:LLY) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,348 shares of the company’s stock after selling 444 shares during the quarter. Park Place Capital Corp’s holdings in Eli Lilly and Company were worth $2,126,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LLY. Transcend Capital Advisors LLC lifted its stake in shares of Eli Lilly and Company by 9.8% in the second quarter. Transcend Capital Advisors LLC now owns 16,931 shares of the company’s stock worth $15,329,000 after buying an additional 1,518 shares in the last quarter. Centre Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 2.3% in the second quarter. Centre Asset Management LLC now owns 7,723 shares of the company’s stock worth $6,992,000 after buying an additional 172 shares in the last quarter. Neville Rodie & Shaw Inc. lifted its stake in shares of Eli Lilly and Company by 1.4% in the second quarter. Neville Rodie & Shaw Inc. now owns 15,373 shares of the company’s stock worth $13,919,000 after buying an additional 207 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 4.8% in the second quarter. Kathmere Capital Management LLC now owns 4,871 shares of the company’s stock worth $4,410,000 after buying an additional 224 shares in the last quarter. Finally, Capital Market Strategies LLC raised its stake in Eli Lilly and Company by 1.3% during the second quarter. Capital Market Strategies LLC now owns 3,469 shares of the company’s stock worth $3,141,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s 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 completion of the sale, 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. Over the last three months, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 3.4 %

Shares of LLY traded down $27.98 during midday trading on Friday, hitting $804.46. 3,515,933 shares of the stock were exchanged, compared to its average volume of 3,316,491. The firm has a market cap of $764.57 billion, a P/E ratio of 118.48, a P/E/G ratio of 1.81 and a beta of 0.41. 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 stock has a fifty day simple moving average of $870.80 and a 200 day simple moving average of $790.05.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

LLY has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Argus lifted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Barclays lifted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.