CIBC Asset Management Inc Buys 8,312 Shares of Eli Lilly and Company (NYSE:LLY)

CIBC Asset Management Inc boosted its stake in Eli Lilly and Company (NYSE:LLY) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 214,362 shares of the company’s stock after acquiring an additional 8,312 shares during the period. CIBC Asset Management Inc’s holdings in Eli Lilly and Company were worth $165,487,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Highview Capital Management LLC DE boosted its holdings in Eli Lilly and Company by 4.6% in the fourth quarter. Highview Capital Management LLC DE now owns 7,071 shares of the company’s stock valued at $5,459,000 after acquiring an additional 308 shares during the last quarter. Mathes Company Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $432,000. Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in Eli Lilly and Company by 6.0% in the fourth quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,211 shares of the company’s stock valued at $1,707,000 after acquiring an additional 126 shares during the last quarter. Advanced Asset Management Advisors Inc boosted its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Advanced Asset Management Advisors Inc now owns 485 shares of the company’s stock valued at $374,000 after acquiring an additional 127 shares during the last quarter. Finally, National Mutual Insurance Federation of Agricultural Cooperatives lifted its stake in Eli Lilly and Company by 15.3% in the fourth quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 19,600 shares of the company’s stock valued at $15,131,000 after buying an additional 2,600 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Citigroup dropped their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Barclays dropped their price target on 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, Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Trading Up 1.6 %

NYSE LLY opened at $857.38 on Wednesday. The firm has a market capitalization of $813.93 billion, a P/E ratio of 73.22, a PEG ratio of 1.87 and a beta of 0.42. The business has a fifty day simple moving average of $795.28 and a 200 day simple moving average of $845.36. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.