Farmers & Merchants Investments Inc. Has $39 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Farmers & Merchants Investments Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,223 shares of the company’s stock after selling 970 shares during the quarter. Eli Lilly and Company makes up 1.2% of Farmers & Merchants Investments Inc.’s portfolio, making the stock its 15th biggest holding. Farmers & Merchants Investments Inc.’s holdings in Eli Lilly and Company were worth $39,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LLY. Wealth Enhancement Advisory Services LLC increased its position in Eli Lilly and Company by 11.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 151,865 shares of the company’s stock worth $125,425,000 after buying an additional 15,393 shares during the last quarter. Tritonpoint Wealth LLC increased its position in Eli Lilly and Company by 1.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,254 shares of the company’s stock worth $3,513,000 after buying an additional 70 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in Eli Lilly and Company by 0.5% during the first quarter. Stock Yards Bank & Trust Co. now owns 110,957 shares of the company’s stock worth $91,641,000 after buying an additional 581 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Eli Lilly and Company during the first quarter worth $3,909,000. Finally, New England Research & Management Inc. increased its position in Eli Lilly and Company by 12.9% during the first quarter. New England Research & Management Inc. now owns 2,711 shares of the company’s stock worth $2,239,000 after buying an additional 310 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $818.56 on Friday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The firm has a market cap of $775.78 billion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business has a fifty day moving average of $775.43 and a 200-day moving average of $801.50.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 earnings per share. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target for the company. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,011.37.

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.