L.M. Kohn & Company Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

L.M. Kohn & Company lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,547 shares of the company’s stock after selling 178 shares during the period. L.M. Kohn & Company’s holdings in Eli Lilly and Company were worth $1,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lee Financial Co lifted its holdings in shares of Eli Lilly and Company by 4.8% in the fourth quarter. Lee Financial Co now owns 2,417 shares of the company’s stock valued at $1,866,000 after purchasing an additional 110 shares in the last quarter. VeraBank N.A. raised its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. VeraBank N.A. now owns 3,689 shares of the company’s stock valued at $2,848,000 after buying an additional 23 shares during the last quarter. MN Wealth Advisors LLC raised its position in shares of Eli Lilly and Company by 14.4% in the fourth quarter. MN Wealth Advisors LLC now owns 2,156 shares of the company’s stock valued at $1,665,000 after buying an additional 272 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Eli Lilly and Company by 0.7% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 32,240 shares of the company’s stock valued at $24,890,000 after buying an additional 230 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of Eli Lilly and Company by 67.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 899 shares of the company’s stock valued at $694,000 after buying an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $844.82 on Monday. The company has a market capitalization of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The firm has a fifty day simple moving average of $794.44 and a 200-day simple moving average of $844.98. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on LLY. Truist Financial boosted 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 research report on Monday, February 3rd. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $997.50.

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.