Bridgewater Advisors Inc. Acquires New Holdings in Eli Lilly and Company (NYSE:LLY)

Bridgewater Advisors Inc. purchased a new position in Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,905 shares of the company’s stock, valued at approximately $3,456,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC increased its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased its stake in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its stake in 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 worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new position in Eli Lilly and Company in the 4th quarter worth about $8,407,908,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $799.51 on Tuesday. The business’s fifty day moving average price is $765.95 and its two-hundred day moving average price is $800.18. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The stock has a market capitalization of $757.72 billion, a price-to-earnings ratio of 65.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY) last announced 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 for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS 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. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s payout ratio is presently 48.82%.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday. Wall Street Zen cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.56.

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.