Nicholas Hoffman & Company LLC. Sells 590 Shares of Eli Lilly and Company (NYSE:LLY)

Nicholas Hoffman & Company LLC. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,629 shares of the company’s stock after selling 590 shares during the quarter. Eli Lilly and Company comprises about 0.3% of Nicholas Hoffman & Company LLC.’s portfolio, making the stock its 24th biggest holding. Nicholas Hoffman & Company LLC.’s holdings in Eli Lilly and Company were worth $7,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LLY. AMF Tjanstepension AB grew its holdings in Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares during the period. Values Added Financial LLC boosted its stake in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after acquiring an additional 17 shares during the period. New Century Financial Group LLC boosted its stake in shares of Eli Lilly and Company by 39.9% during the 3rd quarter. New Century Financial Group LLC now owns 3,057 shares of the company’s stock worth $2,709,000 after acquiring an additional 872 shares during the period. Means Investment CO. Inc. increased its holdings in shares of Eli Lilly and Company by 1.4% during the 3rd quarter. Means Investment CO. Inc. now owns 3,016 shares of the company’s stock worth $2,672,000 after acquiring an additional 43 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Eli Lilly and Company by 35.1% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 550 shares of the company’s stock valued at $487,000 after acquiring an additional 143 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $844.82 on Tuesday. The company’s 50-day moving average price is $794.44 and its two-hundred day moving average price is $845.27. The firm has a market cap of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. 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 has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 44.41%.

Analyst Ratings Changes

Several research firms have commented on LLY. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Barclays decreased their price target on shares of 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. 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, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.