Truepoint Inc. Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Truepoint Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 11.0% during the fourth quarter, HoldingsChannel reports. The fund owned 411 shares of the company’s stock after selling 51 shares during the quarter. Truepoint Inc.’s holdings in Eli Lilly and Company were worth $317,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in LLY. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. FPC Investment Advisory Inc. boosted its stake in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $50,000. Finally, Fiduciary Advisors Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $58,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Price Performance

Shares of LLY opened at $843.35 on Friday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm’s 50-day simple moving average is $835.19 and its two-hundred day simple moving average is $840.70. The stock has a market cap of $799.64 billion, a PE ratio of 72.02, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.