Sumitomo Life Insurance Co. Has $20.29 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Sumitomo Life Insurance Co. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,525 shares of the company’s stock after purchasing an additional 22 shares during the quarter. Eli Lilly and Company makes up about 0.4% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 21st largest position. Sumitomo Life Insurance Co.’s holdings in Eli Lilly and Company were worth $20,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Capital World Investors raised its holdings 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 worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Capital Research Global Investors boosted its stake in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Finally, Capital International Investors grew its position in Eli Lilly and Company by 5.1% during the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after acquiring an additional 335,560 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 1.0 %

Shares of NYSE:LLY traded down $9.46 during mid-day trading on Friday, reaching $922.12. The stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. The firm has a 50 day simple moving average of $878.93 and a two-hundred day simple moving average of $805.16. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $966.10. The firm has a market cap of $876.39 billion, a PE ratio of 135.81, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, August 5th. Morgan Stanley reiterated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

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.