GAMMA Investing LLC Buys 960 Shares of Eli Lilly and Company (NYSE:LLY)

GAMMA Investing LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,805 shares of the company’s stock after acquiring an additional 960 shares during the quarter. Eli Lilly and Company accounts for 1.1% of GAMMA Investing LLC’s portfolio, making the stock its 13th biggest holding. GAMMA Investing LLC’s holdings in Eli Lilly and Company were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Capital World Investors increased its position in Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Morgan Stanley grew its position in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $5,992,890,000. Finally, Northern Trust Corp grew its position in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $891.46 on Thursday. The stock has a market capitalization of $847.25 billion, a price-to-earnings ratio of 131.29, a PEG ratio of 1.94 and a beta of 0.36. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $894.87. The firm’s 50 day simple moving average is $793.39 and its 200-day simple moving average is $724.73. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. Analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Argus raised their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Bank of America raised their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $787.53.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction on Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The disclosure for this sale can be found here. Insiders have sold 762,804 shares of company stock valued at $648,109,138 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.