Bridges Investment Management Inc. Has $10.49 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Bridges Investment Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,845 shares of the company’s stock after purchasing an additional 484 shares during the quarter. Bridges Investment Management Inc.’s holdings in Eli Lilly and Company were worth $10,494,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LLY. Twelve Points Wealth Management LLC lifted its holdings in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the period. Verum Partners LLC grew its holdings in Eli Lilly and Company by 1.5% during the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the last quarter. Summit Financial Strategies Inc. lifted its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership boosted its position in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LLY. Bank of America cut their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $831.74 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 50 day moving average price of $896.31 and a 200 day moving average price of $867.53. The stock has a market capitalization of $789.59 billion, a PE ratio of 89.92, a price-to-earnings-growth ratio of 2.94 and a beta of 0.43. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s payout ratio is 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.