Merriman Wealth Management LLC Increases Position in Eli Lilly and Company (NYSE:LLY)

Merriman Wealth Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 950 shares of the company’s stock after purchasing an additional 25 shares during the quarter. Merriman Wealth Management LLC’s holdings in Eli Lilly and Company were worth $860,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LLY. Swedbank AB purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $932,797,000. Vanguard Group Inc. grew its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Wulff Hansen & CO. raised its stake in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after buying an additional 936,033 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after buying an additional 497,079 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.7 %

LLY opened at $921.72 on Friday. The stock’s 50 day moving average price is $895.06 and its 200-day moving average price is $837.89. The stock has a market cap of $876.01 billion, a price-to-earnings ratio of 135.75, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Citigroup began coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and seventeen have given 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 $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 442,229 shares of company stock worth $410,002,456 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.