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

Sumitomo Life Insurance Co. raised its position in Eli Lilly and Company (NYSE:LLY) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,089 shares of the company’s stock after purchasing an additional 476 shares during the period. Eli Lilly and Company accounts for approximately 0.4% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 22nd biggest holding. Sumitomo Life Insurance Co.’s holdings in Eli Lilly and Company were worth $19,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LLY. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $997.22.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading Up 2.4 %

LLY opened at $823.59 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $637.00 and a one year high of $972.53. The company has a market cap of $781.85 billion, a P/E ratio of 89.04, a PEG ratio of 1.59 and a beta of 0.41. The business’s 50-day simple moving average is $780.80 and its 200-day simple moving average is $845.98.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, equities research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.