Eli Lilly and Company (NYSE:LLY) Stock Holdings Cut by Boltwood Capital Management

Boltwood Capital Management lessened its position in Eli Lilly and Company (NYSE:LLY) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,057 shares of the company’s stock after selling 42 shares during the period. Boltwood Capital Management’s holdings in Eli Lilly and Company were worth $1,588,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Beaird Harris Wealth Management LLC increased its position in 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 purchasing an additional 11 shares during the period. Summit Financial Strategies Inc. lifted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership boosted its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares during the last quarter. O Brien Greene & Co. Inc grew its holdings in Eli Lilly and Company by 1.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after acquiring an additional 12 shares during the period. Finally, Tcwp LLC lifted its stake in Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $6.18 during mid-day trading on Monday, reaching $775.80. The company had a trading volume of 909,003 shares, compared to its average volume of 1,519,841. Eli Lilly and Company has a one year low of $609.59 and a one year high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average price is $793.82 and its 200-day moving average price is $863.35. The firm has a market cap of $736.48 billion, a price-to-earnings ratio of 83.87, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its board has initiated a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays dropped their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

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.