Fred Alger Management LLC Has $167.68 Million Stock Holdings in Eli Lilly and Company $LLY

Key Points

• Fred Alger Management LLC increased its stake in Eli Lilly and Company by 17.9%, acquiring an additional 30,778 shares, which now totals 203,029 shares valued at approximately $167.68 million.
• Director J Erik Fyrwald purchased 1,565 shares at $642.33 each, raising his total holdings to 74,578 shares, valued at around $47.90 million.
• Eli Lilly reported $6.31 EPS for the quarter, exceeding expectations, with revenue of $15.56 billion compared to estimates of $14.40 billion.

Fred Alger Management LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 17.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,029 shares of the company's stock after purchasing an additional 30,778 shares during the period. Eli Lilly and Company accounts for approximately 1.0% of Fred Alger Management LLC's portfolio, making the stock its 20th biggest holding. Fred Alger Management LLC's holdings in Eli Lilly and Company were worth $167,684,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after buying an additional 4,975,395 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its stake in Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after acquiring an additional 81,587 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eli Lilly and Company by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,084,880 shares of the company's stock worth $5,469,527,000 after purchasing an additional 969,376 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of several analyst reports. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Daiwa America downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. Leerink Partners reiterated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Cantor Fitzgerald reduced their price target on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $950.17.

Insiders Place Their Bets

In other Eli Lilly and Company news, Director Gabrielle Sulzberger bought 117 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jamere Jackson purchased 200 shares of the business's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Up 1.5%

Eli Lilly and Company stock traded up $11.35 during mid-day trading on Tuesday, hitting $749.99. The stock had a trading volume of 2,983,536 shares, compared to its average volume of 4,436,129. The stock has a 50-day simple moving average of $743.02 and a two-hundred day simple moving average of $779.63. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $709.84 billion, a PE ratio of 49.02, a P/E/G ratio of 1.03 and a beta of 0.47. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $942.35.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period in the prior year, the business posted $3.92 earnings per share. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. Eli Lilly and Company's payout ratio is 39.22%.

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.