Bank of Nova Scotia Trust Co. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Bank of Nova Scotia Trust Co. has made a new investment in Eli Lilly and Company, acquiring 492 shares valued at approximately $406,000 during the first quarter.
• Analysts have assigned a consensus rating of "Moderate Buy" for Eli Lilly, with 17 out of 21 analysts recommending a buy or higher.
• Eli Lilly reported a quarterly earnings miss with an EPS of $3.34, falling short of the consensus estimate of $4.64, and reported revenues of $12.73 billion.

Bank of Nova Scotia Trust Co. purchased a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 492 shares of the company's stock, valued at approximately $406,000.

A number of other institutional investors have also recently bought and sold shares of LLY. PNC Financial Services Group Inc. raised its holdings in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after buying an additional 50,002,551 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Capital International Investors raised its position in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Capital Research Global Investors increased its position in Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Eli Lilly and Company by 14.6% during the 4th 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 in the last quarter. Institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LLY shares. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Guggenheim raised their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $5.42 during trading hours on Monday, reaching $767.75. 3,348,700 shares of the company were exchanged, compared to its average volume of 3,528,007. The firm has a market cap of $727.63 billion, a PE ratio of 62.47, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock's 50-day moving average is $775.51 and its 200-day moving average is $800.52. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

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.