Boston Financial Mangement LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Boston Financial Mangement LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,007 shares of the company’s stock after selling 37 shares during the period. Boston Financial Mangement LLC’s holdings in Eli Lilly and Company were worth $4,533,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Key Financial Inc lifted its holdings in shares of Eli Lilly and Company by 20.2% during the 2nd quarter. Key Financial Inc now owns 870 shares of the company’s stock valued at $788,000 after buying an additional 146 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $447,000. Signaturefd LLC lifted its holdings in shares of Eli Lilly and Company by 1.2% during the 2nd quarter. Signaturefd LLC now owns 25,829 shares of the company’s stock valued at $23,385,000 after buying an additional 302 shares during the period. North Point Portfolio Managers Corp OH lifted its holdings in shares of Eli Lilly and Company by 24.8% during the 2nd quarter. North Point Portfolio Managers Corp OH now owns 906 shares of the company’s stock valued at $820,000 after buying an additional 180 shares during the period. Finally, Stephens Consulting LLC raised its holdings in Eli Lilly and Company by 29.9% in the 2nd quarter. Stephens Consulting LLC now owns 178 shares of the company’s stock worth $161,000 after purchasing an additional 41 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LLY shares. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Guggenheim raised their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday. Finally, BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $961.76.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 192,794 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $829.77, for a total transaction of $159,974,677.38. Following the completion of the transaction, the insider now directly owns 98,208,810 shares of the company’s stock, valued at approximately $81,490,724,273.70. The disclosure for this sale can be found here. Insiders sold a total of 1,097,883 shares of company stock valued at $972,022,568 over the last 90 days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

Shares of NYSE LLY opened at $960.02 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company has a market cap of $912.41 billion, a P/E ratio of 141.39, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The firm has a 50-day simple moving average of $891.13 and a two-hundred day simple moving average of $819.99.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.