First Merchants Corp Boosts Stake in Eli Lilly and Company $LLY

First Merchants Corp raised its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,141 shares of the company’s stock after buying an additional 325 shares during the period. Eli Lilly and Company comprises about 1.5% of First Merchants Corp’s investment portfolio, making the stock its 10th biggest position. First Merchants Corp’s holdings in Eli Lilly and Company were worth $39,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Eli Lilly and Company by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock worth $10,495,261,000 after buying an additional 81,587 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Eli Lilly and Company by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at $4,613,912,000. Institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CEO David A. Ricks bought 1,632 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer owned 546,601 shares in the company, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares in the company, valued at approximately $87,331,504. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Up 0.2%

Shares of LLY opened at $845.55 on Thursday. The stock has a market capitalization of $800.28 billion, a P/E ratio of 55.26, a PEG ratio of 1.18 and a beta of 0.47. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The firm has a fifty day simple moving average of $738.69 and a two-hundred day simple moving average of $766.57. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $937.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Cantor Fitzgerald reduced their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a report on Wednesday, August 13th. Leerink Partnrs lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. HSBC increased their target price on shares of Eli Lilly and Company from $700.00 to $800.00 in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $943.00.

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.