Boltwood Capital Management Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Boltwood Capital Management lowered its stake in Eli Lilly and Company (NYSE:LLY) by 13.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,303 shares of the company’s stock after selling 361 shares during the period. Boltwood Capital Management’s holdings in Eli Lilly and Company were worth $1,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the last quarter. Moseley Investment Management Inc. lifted its stake in Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after purchasing an additional 14 shares during the last quarter. Buckhead Capital Management LLC lifted its stake in Eli Lilly and Company by 0.7% in the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after purchasing an additional 15 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares during the last quarter. Finally, Clearwater Capital Advisors LLC lifted its stake in Eli Lilly and Company by 1.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 1,202 shares of the company’s stock worth $701,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $891.46 on Thursday. The company has a market cap of $847.25 billion, a price-to-earnings ratio of 131.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.36. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $894.87. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average of $793.39 and a two-hundred day moving average of $724.73.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $1.62 earnings per share. As a group, analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the transaction, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the transaction, the insider now directly owns 97,583,810 shares of the company’s stock, valued at approximately $86,450,473,117.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 762,804 shares of company stock valued at $648,109,138. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LLY shares. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Bank of America upped their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $787.53.

Eli Lilly and Company Company Profile

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.