5 Best Pharma Stocks To Buy Now

2. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 87

Eli Lilly and Company (NYSE:LLY) is an American pharmaceutical enterprise, with its headquarters situated in Indianapolis, Indiana, and a presence in 18 other countries. Established in 1876, the company bears the name of its founder, Colonel Eli Lilly, who was a pharmaceutical chemist and a veteran of the American Civil War.

The company extends a quarterly dividend of $1.13 per share and has maintained a consistent pattern of dividend growth for the past ten consecutive years. Eli Lilly and Company (NYSE:LLY) has been providing dividends to shareholders without interruption for an impressive 138 years. As of October 24, the stock presents a dividend yield of 0.77%.

Of the 910 hedge funds in Insider Monkey’s database, 87 funds owned stakes in Eli Lilly and Company (NYSE:LLY) in Q2 2023, jumping from 72 in the previous quarter. The collective value of these stakes is more than $5 billion.

Madison Sustainable Equity Fund made the following comment about Eli Lilly and Company (NYSE:LLY) in its Q3 2023 investor letter:

“Eli Lilly and Company (NYSE:LLY) again moved higher in the third quarter. The stock has continued to be fueled by its diabetes franchise, in particular Mounjaro, which has been approved for use in diabetes but is also expected to be approved in obesity later this year. We are also waiting for approval of donanemab for Alzheimer’s which should occur by year end.”