BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $132.55 Million Position in Eli Lilly and Company (NYSE:LLY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 21.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 171,690 shares of the company’s stock after purchasing an additional 30,055 shares during the period. Eli Lilly and Company accounts for approximately 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 18th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Eli Lilly and Company were worth $132,545,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $50,000. Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $58,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $66,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 1.2%

Shares of LLY opened at $745.72 on Wednesday. The firm has a market capitalization of $706.75 billion, a price-to-earnings ratio of 63.68, a PEG ratio of 1.40 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm’s 50-day moving average price is $795.44 and its 200-day moving average price is $804.82. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the prior year, the firm earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. 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. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.