Bank of Nova Scotia Grows Stock Holdings in Eli Lilly and Company $LLY

Bank of Nova Scotia boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,260 shares of the company’s stock after buying an additional 1,376 shares during the quarter. Bank of Nova Scotia’s holdings in Eli Lilly and Company were worth $193,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wealth Preservation Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Eli Lilly and Company in the second quarter valued at approximately $27,000. Financial Gravity Companies Inc. acquired a new stake in Eli Lilly and Company during the second quarter worth approximately $31,000. Bare Financial Services Inc lifted its position in shares of Eli Lilly and Company by 263.6% during the 2nd quarter. Bare Financial Services Inc now owns 40 shares of the company’s stock worth $31,000 after buying an additional 29 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in shares of Eli Lilly and Company by 46.7% during the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock worth $34,000 after buying an additional 14 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LLY. DZ Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Leerink Partnrs raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Morgan Stanley boosted their target price on Eli Lilly and Company from $1,171.00 to $1,290.00 and gave the company an “overweight” rating in a report on Monday, November 24th. National Bankshares set a $1,286.00 target price on Eli Lilly and Company in a research report on Monday, December 1st. Finally, Wolfe Research lifted their price target on Eli Lilly and Company from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,087.32.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $1,009.26 on Monday. The stock’s 50-day moving average price is $918.84 and its 200 day moving average price is $810.35. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $954.13 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.37. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $1,111.99.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.60. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The company’s revenue was up 53.9% on a year-over-year basis. During the same period last year, the business posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 14th. 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.