Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,084,795 shares of the company’s stock after selling 18,411 shares during the period. Eli Lilly and Company comprises 1.1% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 10th largest holding. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Eli Lilly and Company worth $1,621,887,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the last quarter. Moseley Investment Management Inc. grew its holdings in Eli Lilly and Company by 0.4% during the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the last quarter. CGN Advisors LLC grew its holdings in Eli Lilly and Company by 1.4% during the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the last quarter. Buckhead Capital Management LLC grew its holdings in Eli Lilly and Company by 0.7% during the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the last quarter. Finally, Levin Capital Strategies L.P. grew its holdings in Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 0.9 %

NYSE:LLY opened at $898.10 on Thursday. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $918.50. The firm has a 50 day moving average of $821.29 and a 200 day moving average of $745.62. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41.

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

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the transaction, the insider now owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the transaction, the insider now owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. 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. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Citigroup boosted their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.