CIBC Asset Management Inc Buys 15,088 Shares of Eli Lilly and Company (NYSE:LLY)

CIBC Asset Management Inc increased its stake in Eli Lilly and Company (NYSE:LLY) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 206,050 shares of the company’s stock after purchasing an additional 15,088 shares during the quarter. CIBC Asset Management Inc’s holdings in Eli Lilly and Company were worth $182,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Vanguard Group Inc. grew its position in shares of Eli Lilly and Company by 1.6% in the first 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 during the last quarter. International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Capital Research Global Investors grew its holdings in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares during the last quarter. Capital International Investors increased its position in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. Finally, GQG Partners LLC increased its position in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 3.2 %

LLY opened at $785.95 on Friday. The company has a market cap of $746.12 billion, a P/E ratio of 84.97, a PEG ratio of 3.07 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company’s 50 day moving average is $888.32 and its 200-day moving average is $870.29. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LLY shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Bank of America decreased their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.