Eli Lilly and Company (NYSE:LLY) Shares Acquired by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 93,910 shares of the company’s stock after purchasing an additional 630 shares during the quarter. Eli Lilly and Company comprises about 3.7% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 6th biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in Eli Lilly and Company were worth $85,024,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LLY. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired 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.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 425,000 shares of company stock valued at $394,455,351. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Bank of America increased their target price on shares of 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. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Finally, Citigroup assumed coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Trading Up 0.7 %

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

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal 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.