Woodmont Investment Counsel LLC Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Woodmont Investment Counsel LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,835 shares of the company’s stock after purchasing an additional 74 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Eli Lilly and Company were worth $3,761,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LLY. Gotham Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 111.3% during the third quarter. Gotham Asset Management LLC now owns 7,386 shares of the company’s stock worth $3,967,000 after buying an additional 3,891 shares during the period. Alps Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 86.8% during the third quarter. Alps Advisors Inc. now owns 33,288 shares of the company’s stock worth $17,880,000 after buying an additional 15,471 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Eli Lilly and Company by 2.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 958,130 shares of the company’s stock worth $514,640,000 after buying an additional 22,710 shares during the period. Elevatus Welath Management acquired a new stake in shares of Eli Lilly and Company during the third quarter worth about $371,000. Finally, EHP Funds Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth about $269,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $906.71 on Wednesday. The business’s 50 day simple moving average is $818.06 and its 200-day simple moving average is $743.26. The firm has a market capitalization of $861.75 billion, a price-to-earnings ratio of 133.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $916.83.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the firm posted $1.62 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LLY. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Bank of America restated a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Argus raised their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the business’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 disclosure for this sale can be found here. Insiders sold 849,894 shares of company stock worth $727,475,118 in the last ninety days. Insiders own 0.13% of the company’s stock.

Eli Lilly and 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.