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

CIBC Asset Management Inc lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,050 shares of the company’s stock after purchasing an additional 15,088 shares during the period. 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.

Several other large investors have also added to or reduced their stakes in LLY. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the second quarter valued at $36,000. Cedar Mountain Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Morton Brown Family Wealth LLC boosted its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday. They set an “outperform” rating and a $1,000.00 price target on the stock. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 3.2 %

LLY opened at $785.95 on Friday. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The company’s 50-day moving average price is $888.32 and its two-hundred day moving average price is $870.29. The stock has a market cap of $746.12 billion, a price-to-earnings ratio of 84.97, a PEG ratio of 3.07 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, equities analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s payout ratio is 56.22%.

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.