Eli Lilly and Company (NYSE:LLY) is Nippon Life Global Investors Americas Inc.’s 6th Largest Position

Nippon Life Global Investors Americas Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,910 shares of the company’s stock after buying an additional 630 shares during the quarter. Eli Lilly and Company makes up 3.7% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 6th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Eli Lilly and Company were worth $85,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Core Wealth Advisors Inc. grew its position 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 valued at $29,000 after purchasing an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the first quarter worth $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 58,749 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the completion of the transaction, the insider now directly owns 97,308,620 shares of the company’s stock, valued at $89,062,687,541.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 425,000 shares of company stock worth $394,455,351. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LLY shares. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Trading Up 0.7 %

Shares of Eli Lilly and Company stock opened at $921.49 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company has a market capitalization of $875.79 billion, a P/E ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company’s fifty day moving average is $895.06 and its two-hundred day moving average is $838.73.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

About Eli Lilly and Company

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.