Rakuten Securities Inc. Takes $824,000 Position in Eli Lilly and Company (NYSE:LLY)

Rakuten Securities Inc. bought a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,414 shares of the company’s stock, valued at approximately $824,000. Eli Lilly and Company makes up approximately 0.7% of Rakuten Securities Inc.’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth $3,416,206,000. International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Eli Lilly and Company by 102,752.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares during the period. Morgan Stanley lifted its stake in shares of Eli Lilly and Company by 44.1% in the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after acquiring an additional 3,691,436 shares during the period. Finally, Imprint Wealth LLC lifted its stake in shares of Eli Lilly and Company by 53,716.8% in the 2nd quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock worth $175,120,000 after acquiring an additional 1,747,946 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.5 %

Shares of NYSE LLY traded down $4.03 during midday trading on Wednesday, reaching $746.74. 2,569,799 shares of the stock were exchanged, compared to its average volume of 2,215,511. The company has a market capitalization of $709.52 billion, a P/E ratio of 128.75, a P/E/G ratio of 1.64 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $367.35 and a 52-week high of $800.78. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average price of $763.51 and a 200-day moving average price of $657.01.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. Equities research analysts expect that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Truist Financial reiterated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. The Goldman Sachs Group increased their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three equities research 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.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

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.