Eli Lilly and Company (NYSE:LLY) Position Boosted by Tower Bridge Advisors

Tower Bridge Advisors grew its holdings in Eli Lilly and Company (NYSE:LLY) by 51.5% during the third quarter, Holdings Channel.com reports. The firm owned 9,149 shares of the company’s stock after buying an additional 3,110 shares during the period. Tower Bridge Advisors’ holdings in Eli Lilly and Company were worth $8,105,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LLY. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the second quarter worth $36,000. Cedar Mountain Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. Morton Brown Family Wealth LLC boosted its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company in the second quarter valued at about $45,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 4.9 %

Shares of LLY stock opened at $746.20 on Friday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $708.38 billion, a PE ratio of 80.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. The stock has a 50 day moving average of $882.65 and a 200-day moving average of $870.38.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm posted $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LLY shares. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

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.