GAMMA Investing LLC Buys Shares of 5,845 Eli Lilly and Company (NYSE:LLY)

GAMMA Investing LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,845 shares of the company’s stock, valued at approximately $3,774,000. Eli Lilly and Company comprises 1.0% of GAMMA Investing LLC’s holdings, making the stock its 14th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth $617,312,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $435,736,000. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Eli Lilly and Company by 24.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock worth $1,778,362,000 after purchasing an additional 645,473 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.0 %

LLY stock traded up $14.29 during trading on Tuesday, hitting $745.62. 2,041,595 shares of the company’s stock traded hands, compared to its average volume of 3,051,032. The firm has a market capitalization of $708.46 billion, a P/E ratio of 127.57, a PEG ratio of 1.58 and a beta of 0.34. The business has a fifty day simple moving average of $763.83 and a two-hundred day simple moving average of $662.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 1 year low of $370.68 and a 1 year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. Eli Lilly and Company’s revenue was up 28.1% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. Sell-side analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Bank of America upped their target price on shares of 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. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Morgan Stanley upped their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Citigroup increased their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

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.