Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,394 shares of the company’s stock after buying an additional 2,481 shares during the quarter. Eli Lilly and Company accounts for about 1.3% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 13th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eli Lilly and Company were worth $107,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares in the last quarter. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. Capital Research Global Investors boosted its position 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. Finally, Capital International Investors boosted its position 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. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of 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, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,097,883 shares of company stock worth $972,022,568. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LLY. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Bank of America lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $960.02 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company has a market capitalization of $912.41 billion, a PE ratio of 141.39, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The firm’s 50-day moving average is $891.13 and its two-hundred day moving average is $819.99. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53.

Eli Lilly and Company Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.