Merit Financial Group LLC Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Merit Financial Group LLC grew its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 25,303 shares of the company's stock after buying an additional 4,752 shares during the quarter. Merit Financial Group LLC's holdings in Eli Lilly and Company were worth $20,898,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Inspirion Wealth Advisors LLC boosted its holdings in Eli Lilly and Company by 8.5% in the first quarter. Inspirion Wealth Advisors LLC now owns 676 shares of the company's stock valued at $558,000 after acquiring an additional 53 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Eli Lilly and Company by 80.1% in the 1st quarter. Gradient Investments LLC now owns 670 shares of the company's stock worth $553,000 after purchasing an additional 298 shares during the period. Arlington Financial Advisors LLC boosted its stake in shares of Eli Lilly and Company by 28.0% during the 1st quarter. Arlington Financial Advisors LLC now owns 650 shares of the company's stock valued at $537,000 after purchasing an additional 142 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of Eli Lilly and Company by 3.1% during the first quarter. Strong Tower Advisory Services now owns 10,224 shares of the company's stock valued at $8,444,000 after buying an additional 305 shares during the period. Finally, McNaughton Wealth Management LLC raised its stake in Eli Lilly and Company by 14.3% in the first quarter. McNaughton Wealth Management LLC now owns 872 shares of the company's stock worth $720,000 after buying an additional 109 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

LLY stock traded up $4.32 during midday trading on Friday, reaching $770.00. 2,068,266 shares of the company's stock traded hands, compared to its average volume of 3,650,285. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market cap of $729.76 billion, a P/E ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The stock's 50-day moving average is $770.87 and its 200 day moving average is $799.95.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the company earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.