J.L. Bainbridge Buys $45 Million in Eli Lilly Stock Despite Price-Pressure Fears

Florida-based wealth advisory J. L. Bainbridge disclosed a purchase of Eli Lilly and Company valued at approximately $45.6 million for the quarter ended September 30, according to an SEC filing released on Friday.J. L. Bainbridge & Co. Inc. significantly increased its stake in Eli Lilly and Company (NYSE:LLY), acquiring 61,258 additional shares during the quarter. The estimated value of the purchase was $45.6 million based on the average closing price for the quarter. The position was reported in the firm’s quarterly Form 13-F filing with the Securities and Exchange Commission on Friday.This buy brings the position to 3.9% of J. L. Bainbridge & Co. Inc.’s 13F reportable assets.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool