Farmers & Merchants Investments Inc. Has $44.41 Million Stake in Eli Lilly and Company (NYSE:LLY)

Farmers & Merchants Investments Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,055 shares of the company’s stock after selling 875 shares during the period. Eli Lilly and Company comprises 1.5% of Farmers & Merchants Investments Inc.’s portfolio, making the stock its 11th biggest position. Farmers & Merchants Investments Inc.’s holdings in Eli Lilly and Company were worth $44,413,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Synergy Asset Management LLC bought a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $11,944,000. Truepoint Inc. bought a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $210,000. Arizona State Retirement System grew its stake in shares of Eli Lilly and Company by 1.2% during the second quarter. Arizona State Retirement System now owns 234,287 shares of the company’s stock valued at $212,119,000 after purchasing an additional 2,731 shares during the last quarter. Childress Capital Advisors LLC grew its stake in shares of Eli Lilly and Company by 2.6% during the second quarter. Childress Capital Advisors LLC now owns 2,340 shares of the company’s stock valued at $2,119,000 after purchasing an additional 60 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Eli Lilly and Company by 3.0% during the second quarter. Victory Capital Management Inc. now owns 695,374 shares of the company’s stock valued at $629,578,000 after purchasing an additional 20,426 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.6 %

Shares of NYSE LLY traded down $5.06 during midday trading on Friday, reaching $907.69. 219,830 shares of the stock were exchanged, compared to its average volume of 3,044,475. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business has a 50-day simple moving average of $896.03 and a two-hundred day simple moving average of $826.65. The company has a market capitalization of $862.67 billion, a price-to-earnings ratio of 134.43, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research analysts expect that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now directly owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 737,410 shares of company stock worth $669,719,100 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, August 19th. Barclays increased their price target 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. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Bank of America raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.