Bridges Investment Counsel Inc. Purchases New Position in Eli Lilly and Company (NYSE:LLY)
Bridges Investment Counsel Inc. purchased a new position in Eli Lilly and Company (NYSE:LLY) during the second quarter, Holdings Channel reports. The institutional investor purchased 9,133 shares of the company’s stock, valued at approximately $751,000.
Other hedge funds have also recently made changes to their positions in the company. First Command Financial Services Inc. increased its stake in shares of Eli Lilly and by 7.3% in the first quarter. First Command Financial Services Inc. now owns 1,227 shares of the company’s stock worth $103,000 after buying an additional 84 shares during the period. Heritage Trust Co purchased a new stake in shares of Eli Lilly and during the first quarter worth about $135,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after buying an additional 1,239 shares during the period. Penserra Capital Management LLC increased its stake in shares of Eli Lilly and by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,024 shares of the company’s stock worth $170,000 after buying an additional 176 shares during the period. Finally, American National Bank increased its stake in shares of Eli Lilly and by 5.2% in the second quarter. American National Bank now owns 2,088 shares of the company’s stock worth $172,000 after buying an additional 104 shares during the period. 75.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eli Lilly and Company (NYSE LLY) traded up 0.35% during midday trading on Monday, hitting $81.43. 851,989 shares of the stock were exchanged. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $86.72. The firm has a market cap of $85.91 billion, a PE ratio of 35.24 and a beta of 0.34. The firm has a 50-day moving average price of $82.91 and a 200 day moving average price of $81.72.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, August 11th. Eli Lilly and’s payout ratio is 90.04%.
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A number of analysts recently issued reports on the stock. Berenberg Bank reissued a “buy” rating and set a $98.00 price target on shares of Eli Lilly and in a report on Friday, August 4th. BMO Capital Markets reissued a “sell” rating and set a $73.00 price target on shares of Eli Lilly and in a report on Friday, August 4th. UBS AG downgraded shares of Eli Lilly and to a “hold” rating and set a $85.00 price target on the stock. in a report on Wednesday, July 26th. TheStreet raised shares of Eli Lilly and from a “c+” rating to a “b+” rating in a report on Tuesday, July 25th. Finally, Leerink Swann downgraded shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $93.00 to $90.00 in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $88.27.
In related news, VP Michael J. Harrington sold 22,833 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the completion of the transaction, the vice president now owns 62,056 shares of the company’s stock, valued at approximately $4,962,618.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Melissa S. Barnes sold 1,900 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.78, for a total transaction of $153,482.00. Following the completion of the transaction, the insider now directly owns 14,041 shares of the company’s stock, valued at approximately $1,134,231.98. The disclosure for this sale can be found here. Insiders sold a total of 669,733 shares of company stock valued at $55,845,287 in the last three months. 0.20% of the stock is currently owned by corporate insiders.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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