Eli Lilly and Company (NYSE:LLY) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Eli Lilly and Company by 12.9%, holding approximately $1.22 billion worth of shares, which represents 1.1% of its investment portfolio.
• Total institutional ownership of Eli Lilly and Company is at 82.53%, indicating strong backing from major investors.
• Analysts are divided on Eli Lilly's stock ratings: one sell, three hold, and seventeen buy ratings, with a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,472,531 shares of the company's stock after acquiring an additional 168,539 shares during the quarter. Eli Lilly and Company accounts for about 1.1% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 14th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Eli Lilly and Company worth $1,216,178,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares in the last quarter. Brighton Jones LLC increased its position in shares of Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after buying an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after buying an additional 40 shares in the last quarter. Orion Capital Management LLC increased its position in shares of Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after buying an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after buying an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Guggenheim raised their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Leerink Partners reiterated a "market perform" rating and set a $715.00 price objective on shares of Eli Lilly and Company in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $990.89.

Insider Transactions at Eli Lilly and Company

In other news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the purchase, the director directly owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Down 2.5%

NYSE:LLY traded down $15.71 during mid-day trading on Friday, reaching $625.15. The company's stock had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The company's fifty day simple moving average is $774.10 and its two-hundred day simple moving average is $798.80. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The stock has a market cap of $592.48 billion, a P/E ratio of 40.86, a P/E/G ratio of 0.91 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the company earned $3.92 EPS. The firm's quarterly revenue was up 37.6% on a year-over-year basis. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and Company Company Profile

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.