Mackenzie Financial Corp Cuts Stake in Eli Lilly and Company $LLY

Mackenzie Financial Corp trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 223,873 shares of the company’s stock after selling 28,561 shares during the quarter. Mackenzie Financial Corp’s holdings in Eli Lilly and Company were worth $174,516,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the second quarter worth $27,000. Financial Gravity Companies Inc. bought a new position in shares of Eli Lilly and Company during the second quarter valued at $31,000. Blume Capital Management Inc. boosted its position in shares of Eli Lilly and Company by 46.7% during the second quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock valued at $34,000 after buying an additional 14 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter worth about $35,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. The Goldman Sachs Group raised their price target on Eli Lilly and Company from $876.00 to $879.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. DZ Bank upgraded Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Hsbc Global Res raised Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Finally, Leerink Partnrs raised shares of Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,047.50.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $1,074.94 on Friday. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $1,111.99. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 70.26, a PEG ratio of 1.21 and a beta of 0.43. The business has a 50-day simple moving average of $889.37 and a two-hundred day simple moving average of $799.23.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.6%. Eli Lilly and Company’s payout ratio is 29.35%.

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.