5 Stocks Ray Dalio and Insiders Are Piling Into

4. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 70

Eli Lilly and Company (NYSE:LLY) is an American company that discovers, develops, and markets human pharmaceuticals worldwide. As of Q3 2022, Ray Dalio owns 288,853 shares of Eli Lilly and Company (NYSE:LLY) worth $93.40 million, representing 0.47% of his total holdings. The billionaire boosted his stake in the company by 42% in Q3 2022. On August 12, a director at Eli Lilly and Company (NYSE:LLY) disclosed the purchase of 656 shares priced at $304.19 each. 

On October 17, Eli Lilly and Company (NYSE:LLY) declared a $0.98 per share quarterly dividend, in line with previous. The dividend is payable on December 9, to shareholders of record on November 15. Eli Lilly and Company (NYSE:LLY)’s dividend yield on November 14 came in at 1.10%. 

Barclays analyst Carter Gould on November 2 raised the price target on Eli Lilly and Company (NYSE:LLY) to $395 from $355 and kept an Overweight rating on the shares. The analyst cited higher long-term Mounjaro estimates after the Q3 results for the target raise. He thinks investors should focus on Mounjaro demand and Eli Lilly and Company (NYSE:LLY)’s long-term opportunity over near-term constraints.

Among the hedge funds tracked by Insider Monkey, 70 funds reported owning stakes in Eli Lilly and Company (NYSE:LLY) at the end of Q2 2022, compared to 53 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest position holder in the company, with nearly 6 million shares worth about $2 billion. 

Here is what ClearBridge Global Growth Strategy has to say about Eli Lilly and Company (NYSE:LLY) in its Q3 2022 investor letter:

“In the U.S., we initiated a position in pharmaceutical maker Eli Lilly (NYSE:LLY) as it brings out new drug candidates for diabetes and Alzheimer’s disease. New drugs impact diabetes but have also demonstrated significant weight loss for patients who are overweight and have other co-morbidity issues as a result. Lilly is one of the two key players in diabetes care and we believe the potential market opportunity is much higher than the consensus forecasts as we are seeing evidence of accelerating adoption.”