Eli Lilly and Company (NYSE:LLY) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 25.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,000 shares of the company's stock after acquiring an additional 3,696 shares during the period. Eli Lilly and Company makes up about 1.1% of GAMMA Investing LLC's holdings, making the stock its 10th largest holding. GAMMA Investing LLC's holdings in Eli Lilly and Company were worth $14,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after buying an additional 475,530 shares during the period. Geode Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after acquiring an additional 291,875 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in the 4th 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 during the period. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $8,407,908,000. Finally, Capital Research Global Investors lifted its holdings in shares of Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after acquiring an additional 1,493,673 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

LLY has been the subject of several research reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Guggenheim reissued a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Down 0.4%

Shares of NYSE:LLY traded down $2.99 during trading hours on Tuesday, reaching $776.54. The stock had a trading volume of 2,732,849 shares, compared to its average volume of 3,681,773. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm's 50 day moving average is $778.38 and its 200-day moving average is $799.85. The stock has a market capitalization of $735.96 billion, a price-to-earnings ratio of 63.18, a P/E/G ratio of 1.14 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company earned $2.58 EPS. Research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

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.