Eli Lilly and Company (NYSE:LLY) Shares Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,720 shares of the company's stock after buying an additional 5,631 shares during the period. Eli Lilly and Company comprises about 0.9% of Sumitomo Life Insurance Co.'s holdings, making the stock its 16th largest position. Sumitomo Life Insurance Co.'s holdings in Eli Lilly and Company were worth $25,372,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LLY. Knightsbridge Asset Management LLC lifted its position in Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after purchasing an additional 40 shares in the last quarter. Prism Advisors Inc. bought a new position in Eli Lilly and Company during the 1st quarter valued at about $207,000. CSM Advisors LLC increased its position in shares of Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $24.50 during trading on Tuesday, hitting $774.84. 1,980,404 shares of the company were exchanged, compared to its average volume of 3,791,283. The company has a market cap of $734.34 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm's fifty day moving average price is $765.95 and its 200 day moving average price is $800.18. 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 (NYSE:LLY - Get Free Report) last posted 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). The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the company posted $2.58 EPS. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share 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. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Guggenheim increased their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and 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.