TD Asset Management Inc Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• TD Asset Management Inc increased its stake in Eli Lilly and Company by 3.6%, now owning over 1.3 million shares, making it the institution's 20th biggest holding.
• Despite recent growth in revenue up 45.2% year-over-year, Eli Lilly reported earnings per share (EPS) of $3.34, missing the consensus estimate of $4.64.
• Analyst ratings for Eli Lilly are mixed, with one downgrade to "hold," while others maintain buy ratings; the stock has a consensus rating of "Moderate Buy" with an average target price of $1,012.56.

TD Asset Management Inc increased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303,146 shares of the company's stock after buying an additional 45,409 shares during the period. Eli Lilly and Company comprises approximately 1.0% of TD Asset Management Inc's investment portfolio, making the stock its 20th largest holding. TD Asset Management Inc owned approximately 0.14% of Eli Lilly and Company worth $1,076,281,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the last quarter. Tobias Financial Advisors Inc. increased its position in shares of Eli Lilly and Company by 4.1% during the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after purchasing an additional 12 shares during the last quarter. Redwood Investments LLC increased its position in shares of Eli Lilly and Company by 0.5% during the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after purchasing an additional 12 shares during the last quarter. Finally, Hobbs Wealth Management LLC increased its position in shares of Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $39.94 on Tuesday, hitting $768.17. The company had a trading volume of 3,732,558 shares, compared to its average volume of 3,758,750. 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 has a 52-week low of $677.09 and a 52-week high of $972.53. The business has a 50 day moving average of $773.01 and a 200 day moving average of $800.67. The company has a market cap of $728.03 billion, a PE ratio of 62.50, a PEG ratio of 1.18 and a beta of 0.40.

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

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

LLY has been the subject of several recent research reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. 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 price objective for the company. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.