Independence Bank of Kentucky Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Independence Bank of Kentucky boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,911 shares of the company’s stock after buying an additional 1,532 shares during the quarter. Eli Lilly and Company accounts for approximately 1.3% of Independence Bank of Kentucky’s holdings, making the stock its 15th biggest position. Independence Bank of Kentucky’s holdings in Eli Lilly and Company were worth $6,123,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $40,000. Morton Brown Family Wealth LLC raised its holdings in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several recent research reports. Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Citigroup assumed coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim increased their price target on 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $979.29.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $1.27 during trading on Friday, hitting $911.96. The stock had a trading volume of 210,990 shares, compared to its average volume of 2,998,750. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The stock has a market capitalization of $866.75 billion, a price-to-earnings ratio of 112.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $908.28 and a two-hundred day simple moving average of $851.21.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

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.