Bond & Devick Financial Network Inc. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Bond & Devick Financial Network Inc. acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 400 shares of the company's stock, valued at approximately $330,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Knightsbridge Asset Management LLC lifted its position in shares of Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares during the last quarter. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company in the 4th quarter worth about $514,000. Kentucky Trust Co acquired a new position in Eli Lilly and Company in the 4th quarter worth about $834,000. CSM Advisors LLC increased its holdings in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 1.2%

Shares of Eli Lilly and Company stock traded up $8.96 on Monday, hitting $746.63. 2,941,928 shares of the company's stock traded hands, compared to its average volume of 3,636,860. The company has a fifty day moving average of $776.85 and a two-hundred day moving average of $799.98. The company has a market capitalization of $707.60 billion, a price-to-earnings ratio of 63.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm's revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company's payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

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.