Farmers & Merchants Investments Inc. Sells 970 Shares of Eli Lilly and Company (NYSE:LLY)

Farmers & Merchants Investments Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 47,223 shares of the company’s stock after selling 970 shares during the quarter. Eli Lilly and Company comprises approximately 1.2% of Farmers & Merchants Investments Inc.’s investment portfolio, making the stock its 15th largest position. Farmers & Merchants Investments Inc.’s holdings in Eli Lilly and Company were worth $39,002,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LLY. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $43,000. FPC Investment Advisory Inc. raised its position in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Capital A Wealth Management LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $66,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $818.56 on Friday. 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 company has a market cap of $775.78 billion, a P/E ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. The business has a fifty day simple moving average of $775.43 and a 200 day simple moving average of $801.50.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.