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

Sumitomo Life Insurance Co. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,613 shares of the company’s stock after acquiring an additional 88 shares during the period. Eli Lilly and Company comprises approximately 0.4% of Sumitomo Life Insurance Co.’s holdings, making the stock its 16th largest holding. Sumitomo Life Insurance Co.’s holdings in Eli Lilly and Company were worth $21,806,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital Research Global Investors raised its holdings in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Capital International Investors raised its holdings in Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. GQG Partners LLC lifted its position in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Eli Lilly and Company by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after purchasing an additional 171,595 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE LLY traded down $6.35 during trading hours on Wednesday, reaching $906.97. 319,780 shares of the company’s stock were exchanged, compared to its average volume of 2,985,185. The firm has a fifty day moving average of $916.37 and a 200-day moving average of $855.42. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. The stock has a market cap of $861.99 billion, a PE ratio of 134.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup started coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective for the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,025.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $979.29.

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.