FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,900 shares of the company’s stock after purchasing an additional 42 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Eli Lilly and Company were worth $2,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Beaird Harris Wealth Management LLC grew its holdings in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. boosted its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the period. Prio Wealth Limited Partnership grew its stake in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares in the last quarter. Tcwp LLC increased its holdings in Eli Lilly and Company by 2.3% during the 2nd quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after acquiring an additional 12 shares during the period. Finally, First Community Trust NA lifted its stake in Eli Lilly and Company by 4.9% in the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 4.1 %

Shares of Eli Lilly and Company stock opened at $726.24 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The company’s 50 day moving average price is $781.14 and its 200-day moving average price is $854.71. The stock has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.14 EPS for the current year.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insiders Place Their Bets

In other Eli Lilly and Company 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 value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Deutsche Bank Aktiengesellschaft dropped 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 research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.