Connor Clark & Lunn Investment Management Ltd. Acquires 4,688 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its position in Eli Lilly and Company by 16.0% during Q1, holding 34,018 shares valued at approximately $28 million.
• Institutional investors own 82.53% of Eli Lilly's stock, indicating strong institutional support for the company.
• Eli Lilly declared a quarterly dividend of $1.50 per share, with a dividend yield of 1.0%, scheduled for payment on September 10th.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,018 shares of the company's stock after acquiring an additional 4,688 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Eli Lilly and Company were worth $28,096,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WestEnd Advisors LLC grew its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares in the last quarter. Citizens National Bank Trust Department grew its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Finally, O Brien Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Eli Lilly and Company Trading Down 2.5%

LLY traded down $15.71 on Friday, reaching $625.15. 14,089,857 shares of the company traded hands, compared to its average volume of 5,397,104. Eli Lilly and Company has a one year low of $623.78 and a one year high of $972.53. The firm has a fifty day simple moving average of $774.10 and a two-hundred day simple moving average of $799.34. The company has a market cap of $591.68 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the business posted $3.92 EPS. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent research reports. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Leerink Partners reissued a "market perform" rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday. Finally, Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average price target of $984.41.

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.