Nippon Life Global Investors Americas Inc. Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Nippon Life Global Investors Americas Inc. cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,610 shares of the company's stock after selling 7,190 shares during the quarter. Eli Lilly and Company makes up 2.3% of Nippon Life Global Investors Americas Inc.'s investment portfolio, making the stock its 13th largest position. Nippon Life Global Investors Americas Inc.'s holdings in Eli Lilly and Company were worth $49,879,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LLY. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC increased its holdings in Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP raised its holdings in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors grew its stake in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Eli Lilly and Company during the fourth quarter worth $1,240,653,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $1,017.00.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $25.21 during trading hours on Friday, hitting $884.94. 3,395,903 shares of the company's stock were exchanged, compared to its average volume of 3,435,687. The company has a market capitalization of $839.07 billion, a PE ratio of 75.57, a PEG ratio of 1.40 and a beta of 0.51. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The business's 50 day simple moving average is $827.14 and its 200-day simple moving average is $818.81.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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.