Hohimer Wealth Management LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Hohimer Wealth Management LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 430 shares of the company’s stock after selling 22 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Eli Lilly and Company were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tidemark LLC purchased a new position in Eli Lilly and Company in the 4th quarter worth $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC increased its holdings in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34. Following the transaction, the insider now owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 737,410 shares of company stock valued at $669,719,100 in the last ninety days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $912.75 on Friday. The stock has a market cap of $867.48 billion, a price-to-earnings ratio of 134.43, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $896.03 and a 200-day simple moving average of $826.65. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, analysts expect that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their target price for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $961.76.

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.