Mechanics Bank Trust Department Acquires 22 Shares of Eli Lilly and Company (NYSE:LLY)

Mechanics Bank Trust Department boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,916 shares of the company’s stock after purchasing an additional 22 shares during the quarter. Mechanics Bank Trust Department’s holdings in Eli Lilly and Company were worth $3,469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LLY. Swedbank AB bought a new position in Eli Lilly and Company during the 1st quarter valued at about $932,797,000. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after acquiring an additional 936,033 shares in the last quarter. GQG Partners LLC lifted its position in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on LLY shares. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup assumed coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $979.29.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $932.06 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average of $910.84 and a two-hundred day moving average of $852.86. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The company has a market capitalization of $885.83 billion, a price-to-earnings ratio of 137.27, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, analysts expect that Eli Lilly and Company will post 16.49 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.