Canada Pension Plan Investment Board Purchases 137,418 Shares of Eli Lilly and Company (NYSE:LLY)

Canada Pension Plan Investment Board raised its position in Eli Lilly and Company (NYSE:LLY) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 927,153 shares of the company’s stock after buying an additional 137,418 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Canada Pension Plan Investment Board’s portfolio, making the stock its 21st largest position. Canada Pension Plan Investment Board owned about 0.10% of Eli Lilly and Company worth $839,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new position in Eli Lilly and Company in the first quarter valued at about $932,797,000. Vanguard Group Inc. boosted its stake 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. boosted its stake 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 valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Capital International Investors increased its position in Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after purchasing an additional 497,079 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets upped 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. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Citigroup assumed coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective for the company. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $915.04 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’s fifty day simple moving average is $895.62 and its two-hundred day simple moving average is $836.99. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The stock has a market capitalization of $869.66 billion, a P/E ratio of 134.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

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

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 442,229 shares of company stock worth $410,002,456 in the last quarter. 0.13% of the stock is owned by corporate insiders.

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.