Eli Lilly and Company (NYSE:LLY) Stake Boosted by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. increased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 57.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,866 shares of the company's stock after purchasing an additional 680 shares during the period. Eli Lilly and Company makes up 1.0% of Asahi Life Asset Management CO. LTD.'s investment portfolio, making the stock its 24th biggest holding. Asahi Life Asset Management CO. LTD.'s holdings in Eli Lilly and Company were worth $1,541,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LLY. GAMMA Investing LLC boosted its holdings in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Norges Bank bought a new stake in Eli Lilly and Company in the fourth quarter worth $8,407,908,000. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Capital International Investors boosted its holdings in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after acquiring an additional 1,493,673 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LLY shares. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. UBS Group cut their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Trading Up 0.3%

Shares of LLY opened at $793.34 on Monday. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The stock has a 50 day simple moving average of $766.39 and a 200-day simple moving average of $800.06. The stock has a market cap of $751.88 billion, a PE ratio of 64.55, a PEG ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company posted $2.58 earnings per share. The company's quarterly revenue was up 45.2% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

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.

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