Mercer Global Advisors Inc. ADV Sells 591,250 Shares of Eli Lilly and Company (NYSE:LLY)

Mercer Global Advisors Inc. ADV lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 84.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,584 shares of the company's stock after selling 591,250 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Eli Lilly and Company were worth $84,770,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its position in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock valued at $5,245,000 after purchasing an additional 724 shares during the period. Knightsbridge Asset Management LLC increased its stake in shares of Eli Lilly and Company by 1.9% in the fourth 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. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $514,000. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $834,000. Finally, CSM Advisors LLC boosted its stake in Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $31.00 during mid-day trading on Friday, hitting $825.10. 6,056,616 shares of the company were exchanged, compared to its average volume of 3,482,067. The company has a market capitalization of $782.34 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The business has a fifty day moving average of $825.36 and a 200 day moving average of $816.37. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LLY shares. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,002.80.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

About Eli Lilly and Company

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.