GAMMA Investing LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

GAMMA Investing LLC grew its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 103,831.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,866,380 shares of the company's stock after purchasing an additional 14,852,076 shares during the quarter. Eli Lilly and Company makes up approximately 2.2% of GAMMA Investing LLC's portfolio, making the stock its 7th largest holding. GAMMA Investing LLC owned 1.57% of Eli Lilly and Company worth $12,278,292,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. AdvisorNet Financial Inc increased its position in Eli Lilly and Company by 3.4% during the 1st quarter. AdvisorNet Financial Inc now owns 2,436 shares of the company's stock worth $2,012,000 after purchasing an additional 79 shares in the last quarter. Howard Financial Services LTD. grew its position in shares of Eli Lilly and Company by 10.9% during the first quarter. Howard Financial Services LTD. now owns 701 shares of the company's stock worth $579,000 after buying an additional 69 shares in the last quarter. Quent Capital LLC raised its stake in shares of Eli Lilly and Company by 2.5% in the 1st quarter. Quent Capital LLC now owns 5,575 shares of the company's stock valued at $4,604,000 after purchasing an additional 136 shares in the last quarter. Baring Financial LLC boosted its holdings in Eli Lilly and Company by 10.7% in the first quarter. Baring Financial LLC now owns 299 shares of the company's stock worth $247,000 after purchasing an additional 29 shares during the period. Finally, Legacy Private Trust Co. raised its stake in Eli Lilly and Company by 6.7% during the first quarter. Legacy Private Trust Co. now owns 10,257 shares of the company's stock worth $8,471,000 after acquiring an additional 641 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

Insider Activity

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

Eli Lilly and Company Stock Up 2.2%

Shares of NYSE LLY traded up $15.76 during trading on Friday, hitting $738.33. The stock had a trading volume of 6,102,436 shares, compared to its average volume of 3,643,048. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The firm has a fifty day moving average of $776.85 and a two-hundred day moving average of $799.96. The company has a market capitalization of $699.74 billion, a PE ratio of 63.05, a PEG ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and Company 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.