Park Edge Advisors LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Park Edge Advisors LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,456 shares of the company’s stock after selling 107 shares during the period. Eli Lilly and Company comprises about 0.7% of Park Edge Advisors LLC’s holdings, making the stock its 22nd biggest position. Park Edge Advisors LLC’s holdings in Eli Lilly and Company were worth $2,224,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Independent Advisor Alliance raised its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the period. Apexium Financial LP lifted its stake in shares of Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares in the last quarter. Capital Planning LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company during the 1st quarter valued at $6,916,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Eli Lilly and Company by 5.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 354,565 shares of the company’s stock worth $206,683,000 after acquiring an additional 17,461 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.5 %

LLY traded down $5.07 on Wednesday, hitting $949.41. 739,352 shares of the company were exchanged, compared to its average volume of 3,075,468. 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 12 month low of $516.57 and a 12 month high of $972.53. The firm has a fifty day simple moving average of $887.63 and a two-hundred day simple moving average of $816.72. The stock has a market capitalization of $902.32 billion, a PE ratio of 140.80, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,120,089 shares of company stock worth $990,278,343. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LLY shares. Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Guggenheim raised their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and 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.