Rafferty Asset Management LLC Purchases 9,327 Shares of Eli Lilly and Company (NYSE:LLY)

Rafferty Asset Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 89,810 shares of the company's stock after buying an additional 9,327 shares during the quarter. Rafferty Asset Management LLC's holdings in Eli Lilly and Company were worth $69,333,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raiffeisen Bank International AG acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $131,684,000. Ratan Capital Management LP grew its position in Eli Lilly and Company by 37.0% in the fourth quarter. Ratan Capital Management LP now owns 16,434 shares of the company's stock worth $12,687,000 after buying an additional 4,434 shares during the last quarter. Redwood Investment Management LLC grew its position in Eli Lilly and Company by 42.7% in the fourth quarter. Redwood Investment Management LLC now owns 1,720 shares of the company's stock worth $1,328,000 after buying an additional 515 shares during the last quarter. Redwood Investments LLC grew its position in Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after buying an additional 12 shares during the last quarter. Finally, Point72 Europe London LLP acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $806,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 3.3%

Shares of NYSE:LLY traded up $23.94 during trading on Friday, reaching $757.23. 4,632,057 shares of the company traded hands, compared to its average volume of 3,591,390. The firm has a fifty day simple moving average of $797.84 and a 200 day simple moving average of $806.14. The firm has a market cap of $717.65 billion, a P/E ratio of 64.67, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company's quarterly revenue was up 45.2% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share 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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is presently 48.82%.

Insider Activity at Eli Lilly and Company

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 completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on LLY shares. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. UBS Group decreased their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,011.37.

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.