Eli Lilly and Company $LLY Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Eli Lilly stake by 3% in the third quarter, selling 56,142 shares and retaining 1.84 million shares worth approximately $2.13 billion. Institutional investors and hedge funds collectively own 82.53% of the company.
• Eli Lilly reported strong third-quarter results, with revenue up 38.6% year over year to $24.4 billion and EPS of $7.48, well above estimates. Strong demand for Mounjaro and Zepbound prompted the company to raise its full-year outlook.
• Analyst sentiment remains favorable but risks are increasing: Lilly has a “Moderate Buy” consensus rating and an average price target of $1,404.14, while concerns include premium valuation, GLP-1 revenue concentration, potential pricing pressure and moderating growth.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839,623 shares of the company's stock after selling 56,142 shares during the quarter. Eli Lilly and Company accounts for approximately 1.2% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 12th largest position. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Eli Lilly and Company worth $2,128,591,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of Eli Lilly and Company during the second quarter worth about $13,522,666,000. Jupiter Topco LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $4,667,180,000. Fifth Third Bancorp boosted its stake in Eli Lilly and Company by 321.3% during the 1st quarter. Fifth Third Bancorp now owns 1,963,490 shares of the company's stock valued at $1,805,959,000 after purchasing an additional 1,497,423 shares during the last quarter. Corient Private Wealth LP acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $764,116,000. Finally, BlackRock Inc. increased its holdings in Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company's stock worth $81,009,981,000 after purchasing an additional 1,046,558 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In other news, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the sale, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $1,190.00, for a total transaction of $5,950,000.00. Following the transaction, the executive vice president owned 11,875 shares of the company's stock, valued at approximately $14,131,250. The trade was a 29.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,500 shares of company stock worth $15,958,170. 0.14% of the stock is owned by company insiders.

Key Stories Impacting Eli Lilly and Company

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Another strong quarter and higher guidance: Third-quarter revenue rose roughly 39% year over year to $24.4 billion, beating expectations, while adjusted EPS also exceeded estimates. Strong demand for Mounjaro and Zepbound led Lilly to raise its full-year outlook. Eli Lilly Just Delivered Another Blowout Quarter
• Positive Sentiment: Analyst price-target increases: Cantor Fitzgerald raised its target to $1,600 and maintained an “overweight” rating. Other firms, including JPMorgan, also boosted targets, reflecting continued confidence in Lilly’s earnings outlook. Cantor Fitzgerald price target
• Neutral Sentiment: Commercial reorganization: Lilly is combining its U.S. and international commercial operations into one division. The move could improve coordination and execution globally, but its financial effect is not yet clear. Lilly combines commercial divisions
• Negative Sentiment: Pricing and growth concerns: Medicare’s GLP-1 Bridge program and lower realized drug prices may pressure revenue and margins. Analysts also warn that growth could moderate after exceptionally strong results, while one-time revenue benefits may not recur. Lilly’s First Full Medicare Quarter
• Negative Sentiment: High expectations and concentration risk: With about two-thirds of revenue tied to its leading GLP-1 medicines and the shares trading at a premium valuation, investors may be taking profits and demanding evidence that rapid growth can continue. Eli Lilly: Softer Growth Ahead

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $1,413.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, October 20th. TD Cowen reaffirmed a "buy" rating and set a $1,250.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, September 22nd. HSBC upped their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the stock a "reduce" rating in a report on Thursday, September 10th. Berenberg Bank raised Eli Lilly and Company from a "hold" rating to a "buy" rating and set a $1,400.00 price target for the company in a research report on Tuesday, September 15th. Finally, Wells Fargo & Company raised their price objective on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,404.14.

Eli Lilly and Company Trading Down 0.4%

NYSE:LLY opened at $1,412.06 on Tuesday. Eli Lilly and Company has a 52 week low of $850.51 and a 52 week high of $1,449.68. The firm has a 50-day moving average price of $1,200.81 and a two-hundred day moving average price of $1,094.25. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.00 and a current ratio of 1.35. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 1.73 and a beta of 0.46.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping analysts' consensus estimates of $5.71 by $1.77. The firm had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. Eli Lilly and Company had a return on equity of 97.83% and a net margin of 33.53%. The company's revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.02 EPS. On average, equities analysts expect that Eli Lilly and Company will post 35.18 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company's dividend payout ratio (DPR) is 22.46%.

About Eli Lilly and Company

Eli Lilly and Company NYSE: LLY is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company's portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer's disease.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.