Eli Lilly and Company (NYSE:LLY) Shares Bought by Tower Bridge Advisors

Tower Bridge Advisors grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 51.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,149 shares of the company’s stock after purchasing an additional 3,110 shares during the quarter. 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 institutional investors and hedge funds have also made changes to their positions in LLY. Mechanics Financial Corp grew its stake in Eli Lilly and Company by 49.7% during the 3rd quarter. Mechanics Financial Corp now owns 2,554 shares of the company’s stock worth $2,263,000 after buying an additional 848 shares during the last quarter. Adero Partners LLC lifted its stake in Eli Lilly and Company by 4.1% in the third quarter. Adero Partners LLC now owns 1,080 shares of the company’s stock valued at $957,000 after buying an additional 43 shares during the last quarter. Atlanta Consulting Group Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 45.2% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 777 shares of the company’s stock valued at $688,000 after acquiring an additional 242 shares during the period. Frazier Financial Advisors LLC grew its position in shares of Eli Lilly and Company by 6.6% during the third quarter. Frazier Financial Advisors LLC now owns 553 shares of the company’s stock worth $490,000 after acquiring an additional 34 shares during the last quarter. Finally, Beaton Management Co. Inc. grew its position in shares of Eli Lilly and Company by 0.3% during the third quarter. Beaton Management Co. Inc. now owns 5,747 shares of the company’s stock worth $5,091,000 after acquiring an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the topic of several recent research reports. Barclays cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Guggenheim raised their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on 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. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 4.9 %

Shares of NYSE:LLY opened at $746.20 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market capitalization of $708.38 billion, a price-to-earnings ratio of 80.67, a PEG ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The company has a 50 day moving average price of $882.65 and a 200 day moving average price of $870.38.

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

Eli Lilly and Company Announces Dividend

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

Eli Lilly and Company Profile

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.