Boltwood Capital Management Sells 42 Shares of Eli Lilly and Company (NYSE:LLY)

Boltwood Capital Management lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,057 shares of the company’s stock after selling 42 shares during the quarter. Boltwood Capital Management’s holdings in Eli Lilly and Company were worth $1,588,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after buying an additional 16 shares during the period. Norden Group LLC lifted its stake in shares of Eli Lilly and Company by 1.3% in the 2nd quarter. Norden Group LLC now owns 2,080 shares of the company’s stock valued at $1,883,000 after purchasing an additional 27 shares during the period. Strategic Financial Concepts LLC grew its stake in Eli Lilly and Company by 68,180.8% in the second quarter. Strategic Financial Concepts LLC now owns 415,147 shares of the company’s stock worth $3,759,000 after purchasing an additional 414,539 shares during the period. Chris Bulman Inc bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $246,000. Finally, Asset Dedication LLC lifted its position in Eli Lilly and Company by 4.2% during the 2nd quarter. Asset Dedication LLC now owns 8,693 shares of the company’s stock valued at $7,870,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $6.18 during midday trading on Monday, hitting $775.80. 909,003 shares of the company traded hands, compared to its average volume of 1,519,841. Eli Lilly and Company has a 52 week low of $609.59 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a 50 day moving average of $793.82 and a 200-day moving average of $863.35. The stock 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 posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. 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. Finally, JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.