Mercer Global Advisors Inc. ADV Increases Stake in Eli Lilly and Company (NYSE:LLY)

Mercer Global Advisors Inc. ADV grew its stake in Eli Lilly and Company (NYSE:LLY) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 694,060 shares of the company’s stock after buying an additional 2,681 shares during the quarter. Eli Lilly and Company accounts for approximately 1.6% of Mercer Global Advisors Inc. ADV’s portfolio, making the stock its 16th biggest position. Mercer Global Advisors Inc. ADV owned approximately 0.07% of Eli Lilly and Company worth $628,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. E Fund Management Co. Ltd. lifted its stake in Eli Lilly and Company by 0.9% during the second quarter. E Fund Management Co. Ltd. now owns 5,211 shares of the company’s stock worth $4,718,000 after purchasing an additional 46 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in Eli Lilly and Company by 2.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,181 shares of the company’s stock worth $18,272,000 after purchasing an additional 558 shares during the last quarter. L & S Advisors Inc lifted its stake in Eli Lilly and Company by 5.1% during the second quarter. L & S Advisors Inc now owns 19,116 shares of the company’s stock worth $17,307,000 after purchasing an additional 934 shares during the last quarter. Fairway Wealth LLC purchased a new stake in Eli Lilly and Company during the second quarter worth approximately $65,000. Finally, Abbot Financial Management Inc. purchased a new stake in Eli Lilly and Company during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.9 %

Shares of LLY stock opened at $906.17 on Wednesday. The business’s fifty day moving average price is $896.70 and its 200 day moving average price is $835.96. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The firm has a market capitalization of $861.23 billion, a PE ratio of 133.46, 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 current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, sell-side analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued 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 was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LLY shares. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Jefferies Financial Group lifted 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 report on Monday, June 24th. Finally, Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 451,900 shares of company stock valued at $418,732,178 over the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.