Sumitomo Mitsui Trust Group Inc. Buys 16,319 Shares of Eli Lilly and Company (NYSE:LLY)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,449 shares of the company's stock after purchasing an additional 16,319 shares during the quarter. Eli Lilly and Company makes up approximately 1.1% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 12th largest holding. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Eli Lilly and Company worth $1,613,373,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Golden State Wealth Management LLC boosted its position in Eli Lilly and Company by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 1,019 shares of the company's stock worth $842,000 after acquiring an additional 85 shares during the last quarter. Patron Partners LLC raised its stake in shares of Eli Lilly and Company by 4.4% in the 1st quarter. Patron Partners LLC now owns 3,718 shares of the company's stock valued at $3,071,000 after acquiring an additional 157 shares during the period. Confluence Wealth Services Inc. increased its stake in Eli Lilly and Company by 17.3% during the 1st quarter. Confluence Wealth Services Inc. now owns 10,315 shares of the company's stock worth $8,555,000 after buying an additional 1,521 shares during the period. Bordeaux Wealth Advisors LLC increased its stake in Eli Lilly and Company by 84.2% during the 1st quarter. Bordeaux Wealth Advisors LLC now owns 2,199 shares of the company's stock worth $1,816,000 after buying an additional 1,005 shares during the period. Finally, Heirloom Wealth Management increased its stake in Eli Lilly and Company by 3.3% during the 1st quarter. Heirloom Wealth Management now owns 9,042 shares of the company's stock worth $7,468,000 after buying an additional 286 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on LLY shares. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, UBS Group cut their price target 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 report on Friday, May 2nd. One research 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $2.99 during mid-day trading on Tuesday, reaching $776.54. The company's stock had a trading volume of 2,732,849 shares, compared to its average volume of 3,681,773. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market cap of $735.96 billion, a P/E ratio of 63.18, a PEG ratio of 1.14 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm's 50-day moving average is $779.41 and its two-hundred day moving average is $800.01.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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 net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The company's quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend 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.