First Mercantile Trust Co. Grows Position in Eli Lilly And Co (NYSE:LLY)
First Mercantile Trust Co. boosted its stake in Eli Lilly And Co (NYSE:LLY) by 16.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,168 shares of the company’s stock after buying an additional 600 shares during the quarter. First Mercantile Trust Co.’s holdings in Eli Lilly And Co were worth $466,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Selective Wealth Management Inc. purchased a new stake in Eli Lilly And Co in the 3rd quarter valued at $25,000. Enterprise Trust & Investment Co bought a new stake in Eli Lilly And Co during the 3rd quarter valued at $27,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Eli Lilly And Co in the 3rd quarter worth $29,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Eli Lilly And Co in the 3rd quarter worth $34,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Eli Lilly And Co in the 2nd quarter worth $34,000. 77.22% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jackson P. Tai acquired 1,861 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $107.49 per share, with a total value of $200,038.89. Following the completion of the transaction, the director now owns 56,440 shares of the company’s stock, valued at $6,066,735.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 173,918 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $114.05, for a total value of $19,835,347.90. Following the sale, the insider now directly owns 116,229,383 shares in the company, valued at approximately $13,255,961,131.15. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 8,405 shares of company stock valued at $909,004 and sold 614,373 shares valued at $70,546,895. Company insiders own 0.11% of the company’s stock.
Eli Lilly And Co (NYSE:LLY) last issued its earnings results on Wednesday, October 23rd. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.50 billion. Eli Lilly And Co had a return on equity of 107.99% and a net margin of 35.10%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. As a group, research analysts forecast that Eli Lilly And Co will post 5.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.645 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.58 dividend on an annualized basis and a yield of 2.29%. Eli Lilly And Co’s dividend payout ratio (DPR) is 46.49%.
A number of analysts have recently weighed in on LLY shares. UBS Group lowered their price objective on Eli Lilly And Co from $134.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Bank of America started coverage on Eli Lilly And Co in a research report on Wednesday, October 16th. They issued a “buy” rating and a $133.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Eli Lilly And Co currently has a consensus rating of “Buy” and a consensus price target of $130.03.
Eli Lilly And Co Company Profile
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
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