Intact Investment Management Inc. Has $2.29 Million Position in Eli Lilly and Company (NYSE:LLY)

Intact Investment Management Inc. grew its stake in Eli Lilly and Company (NYSE:LLY) by 27.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,580 shares of the company’s stock after purchasing an additional 560 shares during the period. Intact Investment Management Inc.’s holdings in Eli Lilly and Company were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $45,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $806.14 on Tuesday. The company has a fifty day simple moving average of $908.15 and a 200 day simple moving average of $867.39. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 2.03. The company has a market cap of $765.28 billion, a P/E ratio of 87.15, a PEG ratio of 3.13 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. BMO Capital Markets raised their price target on shares of 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,008.41.

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.