Eli Lilly and Company (NYSE:LLY) Shares Acquired by Shelton Wealth Management LLC

Shelton Wealth Management LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 57.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,155 shares of the company’s stock after purchasing an additional 422 shares during the period. Shelton Wealth Management LLC’s holdings in Eli Lilly and Company were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. Beck Bode LLC acquired a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $15,036,000. XTX Topco Ltd acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $546,000. Pacer Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 5.8% during the second quarter. Pacer Advisors Inc. now owns 68,017 shares of the company’s stock worth $61,581,000 after purchasing an additional 3,713 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Eli Lilly and Company by 1.9% in the second quarter. Westwood Holdings Group Inc. now owns 3,912 shares of the company’s stock valued at $3,542,000 after purchasing an additional 73 shares during the period. Finally, Kowal Investment Group LLC increased its stake in Eli Lilly and Company by 16.7% in the second quarter. Kowal Investment Group LLC now owns 1,287 shares of the company’s stock valued at $1,165,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Citigroup increased their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $726.24 on Monday. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The firm has a market capitalization of $689.43 billion, a PE ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The firm has a 50-day moving average price of $781.14 and a 200 day moving average price of $854.35. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Eli Lilly and Company declared that its board has initiated a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.