Farmers & Merchants Investments Inc. Grows Position in Eli Lilly and Company (NYSE:LLY)

Farmers & Merchants Investments Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,193 shares of the company’s stock after acquiring an additional 189 shares during the period. Eli Lilly and Company makes up approximately 1.2% of Farmers & Merchants Investments Inc.’s holdings, making the stock its 16th biggest holding. Farmers & Merchants Investments Inc.’s holdings in Eli Lilly and Company were worth $37,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. AMF Tjanstepension AB grew its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares in the last quarter. Values Added Financial LLC lifted its holdings in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after acquiring an additional 17 shares during the last quarter. Brown Miller Wealth Management LLC grew its position in Eli Lilly and Company by 36.5% in the third quarter. Brown Miller Wealth Management LLC now owns 445 shares of the company’s stock worth $394,000 after acquiring an additional 119 shares in the last quarter. Montis Financial LLC increased its stake in Eli Lilly and Company by 8.5% during the third quarter. Montis Financial LLC now owns 513 shares of the company’s stock worth $455,000 after acquiring an additional 40 shares during the last quarter. Finally, Mechanics Bank Trust Department raised its position in Eli Lilly and Company by 0.6% during the third quarter. Mechanics Bank Trust Department now owns 3,916 shares of the company’s stock valued at $3,469,000 after purchasing an additional 22 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $878.09 on Monday. The company’s 50 day moving average is $789.87 and its 200 day moving average is $843.31. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $833.58 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company announced that its board has approved a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Eli Lilly and Company

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.