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 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,845 shares of the company’s stock, valued at approximately $3,774,000. Eli Lilly and Company makes up about 1.0% of GAMMA Investing LLC’s portfolio, making the stock its 14th biggest position.

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

Eli Lilly and Company Stock Up 2.0 %

Shares of NYSE:LLY traded up $14.29 during midday trading on Tuesday, reaching $745.62. The company had a trading volume of 2,041,595 shares, compared to its average volume of 3,051,032. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The stock’s fifty day moving average price is $763.83 and its 200-day moving average price is $662.78. The stock 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. Eli Lilly and Company has a one year low of $370.68 and a one year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last released 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. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

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

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Truist Financial reaffirmed a “buy” rating and set a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Barclays lifted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

About Eli Lilly and Company

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.