Meiji Yasuda Life Insurance Co Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Meiji Yasuda Life Insurance Co decreased its position in Eli Lilly and Company (NYSE:LLY) by 2.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,299 shares of the company’s stock after selling 689 shares during the period. Eli Lilly and Company comprises 0.6% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 17th biggest position. Meiji Yasuda Life Insurance Co’s holdings in Eli Lilly and Company were worth $29,243,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Twelve Points Wealth Management LLC grew its position in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC lifted its stake in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC lifted its stake in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 451,900 shares of company stock valued at $418,732,178 over the last quarter. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LLY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Down 1.9 %

Eli Lilly and Company stock opened at $906.17 on Wednesday. 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 firm has a market capitalization of $861.23 billion, a price-to-earnings ratio of 133.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The stock’s fifty day moving average is $896.70 and its two-hundred day moving average is $835.96.

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

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.