FARMERS & MERCHANTS TRUST Co OF LONG BEACH Lowers Stake in Eli Lilly and Company (NYSE:LLY)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,833 shares of the company’s stock after selling 67 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Eli Lilly and Company were worth $2,340,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $48,000. Capital A Wealth Management LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $63,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $66,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.8%

LLY stock opened at $818.56 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a market capitalization of $775.78 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. The firm’s fifty day simple moving average is $775.43 and its two-hundred day simple moving average is $801.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The company’s revenue was up 45.2% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s payout ratio is presently 48.82%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LLY. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Finally, UBS Group decreased their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.