Sumitomo Life Insurance Co. Boosts Stake in Eli Lilly and Company $LLY

by · The Markets Daily

Sumitomo Life Insurance Co. increased its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 1.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,080 shares of the company’s stock after purchasing an additional 360 shares during the period. Eli Lilly and Company accounts for 1.6% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 12th largest holding. Sumitomo Life Insurance Co.’s holdings in Eli Lilly and Company were worth $24,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Eli Lilly and Company during the first quarter valued at approximately $27,000. Blume Capital Management Inc. raised its position in Eli Lilly and Company by 46.7% during the second quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock valued at $34,000 after purchasing an additional 14 shares during the period. IMG Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the second quarter valued at approximately $35,000. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company during the first quarter valued at approximately $40,000. Finally, TD Capital Management LLC raised its position in Eli Lilly and Company by 129.2% during the first quarter. TD Capital Management LLC now owns 55 shares of the company’s stock valued at $46,000 after purchasing an additional 31 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 2.2%

Shares of NYSE:LLY opened at $862.96 on Friday. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $935.63. The stock has a market cap of $816.76 billion, a P/E ratio of 56.40, a price-to-earnings-growth ratio of 1.21 and a beta of 0.47. The business’s 50 day moving average is $780.74 and its 200 day moving average is $771.71. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Eli Lilly and Company’s revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio is 39.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DZ Bank upgraded Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. UBS Group decreased their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. The Goldman Sachs Group upped their price objective on Eli Lilly and Company from $876.00 to $879.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Daiwa Capital Markets cut Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 target price on the stock. in a research note on Sunday, August 17th. Finally, HSBC upped their target price on Eli Lilly and Company from $700.00 to $800.00 in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $940.00.

Get Our Latest Research Report on Eli Lilly and Company

Insider Buying and Selling

In other news, CEO David A. Ricks acquired 1,632 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This trade represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jamere Jackson acquired 200 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 4,514 shares of company stock valued at $2,894,841 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Profile

(Free Report)

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.

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