Scotia Capital Inc. Purchases 7,886 Shares of Eli Lilly and Company (NYSE:LLY)

Scotia Capital Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,242 shares of the company’s stock after acquiring an additional 7,886 shares during the quarter. Scotia Capital Inc.’s holdings in Eli Lilly and Company were worth $73,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LLY. PNC Financial Services Group Inc. increased its stake in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Capital International Investors grew its stake in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after buying an additional 1,493,673 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company’s stock valued at $7,294,025,000 after buying an additional 1,204,337 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LLY. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.56.

Eli Lilly and Company Price Performance

LLY stock opened at $761.47 on Friday. The firm has a 50 day moving average price of $775.51 and a 200-day moving average price of $800.23. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm has a market capitalization of $721.68 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY) last released its 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Eli Lilly and Company 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.