Merit Financial Group LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Merit Financial Group LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 52.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,534 shares of the company’s stock after selling 5,024 shares during the period. Merit Financial Group LLC’s holdings in Eli Lilly and Company were worth $2,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LLY. Simon Quick Advisors LLC increased its stake in Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after acquiring an additional 278 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $363,000. Terril Brothers Inc. lifted its stake in Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares in the last quarter. Hartline Investment Corp grew its stake in shares of Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after buying an additional 248 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Eli Lilly and Company by 5.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 354,565 shares of the company’s stock valued at $206,683,000 after buying an additional 17,461 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LLY. Morgan Stanley increased their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Citigroup increased their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $20.94 during mid-day trading on Friday, reaching $734.97. 4,595,138 shares of the company were exchanged, compared to its average volume of 2,629,045. The firm’s 50-day simple moving average is $761.75 and its two-hundred day simple moving average is $670.56. Eli Lilly and Company has a twelve month low of $419.80 and a twelve month high of $800.78. The firm has a market cap of $698.52 billion, a PE ratio of 108.24, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.73 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 13.83 earnings per share for the current fiscal year.

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.