FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.88 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,707 shares of the company’s stock after selling 232 shares during the quarter. Eli Lilly and Company comprises about 0.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 29th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Eli Lilly and Company were worth $2,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LLY. Lipe & Dalton bought a new stake in Eli Lilly and Company during the fourth quarter worth $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $29,000. Core Wealth Advisors Inc. grew its position in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC grew its position in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LLY. Bank of America reiterated a “buy” rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a research report on Monday, June 24th. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Citigroup boosted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 849,894 shares of company stock valued at $727,475,118 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.8 %

Shares of NYSE:LLY opened at $906.71 on Wednesday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $916.83. The firm has a market capitalization of $861.75 billion, a P/E ratio of 133.54, a P/E/G ratio of 1.97 and a beta of 0.41. The stock has a 50 day moving average price of $818.06 and a 200-day moving average price of $743.26. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.