First Merchants Corp Has $41.14 Million Holdings in Eli Lilly and Company (NYSE:LLY)

First Merchants Corp lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,816 shares of the company's stock after selling 6,383 shares during the quarter. Eli Lilly and Company makes up 1.6% of First Merchants Corp's investment portfolio, making the stock its 8th largest position. First Merchants Corp's holdings in Eli Lilly and Company were worth $41,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Knightsbridge Asset Management LLC boosted its stake in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after purchasing an additional 15 shares during the period. LS Investment Advisors LLC boosted its stake in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after purchasing an additional 40 shares during the period. CSM Advisors LLC boosted its stake in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the period. Proficio Capital Partners LLC boosted its stake in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares during the period. Finally, Bfsg LLC boosted its stake in Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $776.18 on Friday. The business has a 50 day moving average of $780.19 and a 200 day moving average of $799.94. The company has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the firm earned $2.58 earnings per share. Eli Lilly and Company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group dropped their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

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.

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