Eli Lilly and Company (NYSE:LLY) Holdings Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,084,795 shares of the company’s stock after selling 18,411 shares during the period. Eli Lilly and Company makes up about 1.1% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 10th largest position. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Eli Lilly and Company were worth $1,621,887,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Core Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Tidemark LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $29,000. Frank Rimerman Advisors LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $37,000. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $898.10 on Thursday. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $918.50. The company has a market cap of $853.56 billion, a price-to-earnings ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The firm has a fifty day moving average of $821.29 and a 200-day moving average of $745.62.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The disclosure for this sale can be found here. Insiders sold 858,742 shares of company stock valued at $735,573,781 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Argus lifted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. BMO Capital Markets restated an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Finally, Jefferies Financial Group lifted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $812.72.

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.