FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 42 Shares of Eli Lilly and Company (NYSE:LLY)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Eli Lilly and Company (NYSE:LLY) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC boosted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 4.1 %

LLY stock opened at $726.24 on Friday. The stock has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $781.14 and its two-hundred day simple moving average is $854.71. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53.

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

Eli Lilly and Company Increases Dividend

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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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.