Global X Japan Co. Ltd. Invests $2.14 Million in Eli Lilly and Company (NYSE:LLY)

Global X Japan Co. Ltd. acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,363 shares of the company’s stock, valued at approximately $2,139,000.

Several other large investors have also recently added to or reduced their stakes in LLY. LGT Fund Management Co Ltd. grew its stake in Eli Lilly and Company by 89.4% in the second quarter. LGT Fund Management Co Ltd. now owns 17,724 shares of the company’s stock valued at $16,047,000 after purchasing an additional 8,367 shares in the last quarter. LGT Group Foundation increased its holdings in Eli Lilly and Company by 171.6% in the second quarter. LGT Group Foundation now owns 394,553 shares of the company’s stock worth $357,220,000 after buying an additional 249,272 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in Eli Lilly and Company by 20.9% in the second quarter. Liberty Wealth Management LLC now owns 1,063 shares of the company’s stock valued at $963,000 after acquiring an additional 184 shares during the last quarter. Choreo LLC grew its position in Eli Lilly and Company by 239.4% in the second quarter. Choreo LLC now owns 27,933 shares of the company’s stock worth $25,524,000 after acquiring an additional 19,704 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Eli Lilly and Company by 3.4% during the 2nd quarter. Wedbush Securities Inc. now owns 24,501 shares of the company’s stock worth $22,183,000 after purchasing an additional 809 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 661,900 shares of company stock worth $604,721,602 over the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $908.39 on Tuesday. The stock’s 50 day simple moving average is $895.85 and its 200-day simple moving average is $829.55. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market cap of $863.36 billion, a PE ratio of 133.78, a P/E/G ratio of 2.73 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Sell-side analysts forecast that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $961.76.

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.