Eli Lilly and Company (NYSE:LLY) Stake Increased by First Merchants Corp

First Merchants Corp raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,119 shares of the company’s stock after purchasing an additional 4,492 shares during the quarter. Eli Lilly and Company accounts for about 2.0% of First Merchants Corp’s investment portfolio, making the stock its 7th biggest holding. First Merchants Corp’s holdings in Eli Lilly and Company were worth $50,809,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC raised its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after buying an additional 11 shares during the last quarter. Acorn Creek Capital LLC lifted its stake in Eli Lilly and Company by 1.3% during the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after acquiring an additional 12 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of Eli Lilly and Company by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after acquiring an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.1 %

Eli Lilly and Company stock opened at $952.74 on Friday. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The firm has a market capitalization of $905.49 billion, a price-to-earnings ratio of 140.32, a P/E/G ratio of 1.81 and a beta of 0.41. The firm has a 50 day moving average of $886.32 and a 200 day moving average of $814.57. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LLY. Wells Fargo & Company increased their price objective 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. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 22,206 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the completion of the sale, the insider now directly owns 98,401,604 shares of the company’s stock, valued at approximately $80,896,942,664.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 1,122,141 shares of company stock valued at $991,938,411 over the last three months. Corporate 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.