5 Dividend Stocks to Buy According to Billionaire Ken Fisher

3. Eli Lilly and Company (NYSE:LLY)

Fisher Asset Management’s Stake Value: $2,148,979,000
Dividend Yield as of June 15: 1.35%
Number of Hedge Fund Holders: 53

Eli Lilly and Company (NYSE:LLY) is an American pharmaceutical company that provides high-quality products and is mainly known for its clinical depression drugs. During the first quarter of 2022, Fisher Asset Management purchased additional 521,295 LLY shares, increasing its position in the company by 8%. The hedge fund held stakes worth over $2.1 billion in the company, which accounted for 1.26% of Ken Fisher’s portfolio.

In Q1 2022, Eli Lilly and Company (NYSE:LLY) posted an EPS of $2.62, beating estimates by $0.32. The company’s revenue of $7.81 billion saw a 14.7% year-over-year growth and also surpassed analysts’ expectations by $520 million. For FY22, the company expects its gross revenue to fall between $28.8 billion to $29.3 billion, versus estimates of $28.47 billion.

On May 2, Eli Lilly and Company (NYSE:LLY) stated a quarterly dividend of $0.98 per share, with a dividend yield of 1.35%, as of June 15. 2021 marked the company’s 136^th consecutive year of dividend distribution. In June, JPMorgan raised its price target on Eli Lilly and Company (NYSE:LLY) following the FDA approval of the company’s drug for type two diabetes. Moreover, the firm also expects LLY to see EPS growth from $8.80 in 2022 to $28 by 2030.

As per Insider Monkey’s Q1 2022 database, 53 hedge funds tracked by Insider Monkey held stakes in Eli Lilly and Company (NYSE:LLY), down from 61 in the previous quarter. These stakes hold a consolidated value of over $5 billion.

Baron Funds mentioned Eli Lilly and Company (NYSE:LLY) in its Q1 2022 investor letter. Here is what the firm has to say:

“Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company with a diverse offering primarily focused on therapeutics. Performance was strong mostly due to consistent financial growth powered by its core diabetes (and future obesity) franchise, as well as the constant drumbeat surrounding the Alzheimer’s therapeutic market, of which Eli Lilly has one of the three potential winning blockbuster candidates in Donanemab. We retain conviction in Eli Lilly given the company’s strong long-term growth outlook.”