New Covenant Trust Company N.A. Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

New Covenant Trust Company N.A. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,011 shares of the company’s stock after selling 192 shares during the quarter. Eli Lilly and Company makes up about 2.3% of New Covenant Trust Company N.A.’s holdings, making the stock its 12th largest holding. New Covenant Trust Company N.A.’s holdings in Eli Lilly and Company were worth $2,330,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC raised its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. FPC Investment Advisory Inc. lifted its stake in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Finally, Hara Capital LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of 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. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial upped 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 research report on Monday, February 3rd. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Stock Performance

LLY opened at $910.92 on Wednesday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The firm has a market capitalization of $863.70 billion, a PE ratio of 77.79, a PEG ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm’s 50-day moving average price is $819.86 and its 200 day moving average price is $848.03.

Eli Lilly and Company (NYSE:LLY) last issued 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

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.