Truepoint Inc. Sells 51 Shares of Eli Lilly and Company (NYSE:LLY)

Truepoint Inc. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411 shares of the company’s stock after selling 51 shares during the period. Truepoint Inc.’s holdings in Eli Lilly and Company were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LLY. Proficio Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. Parnassus Investments LLC increased its position in Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after acquiring an additional 932,309 shares during the period. Polen Capital Management LLC raised its stake in shares of Eli Lilly and Company by 164.4% during the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock valued at $1,000,040,000 after acquiring an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. lifted its holdings in shares of Eli Lilly and Company by 6,406.9% during the fourth quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $843.35 on Friday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The firm has a market capitalization of $799.64 billion, a price-to-earnings ratio of 72.02, a PEG ratio of 1.40 and a beta of 0.34. The business has a 50-day simple moving average of $835.19 and a 200 day simple moving average of $840.70. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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 85.24%. On average, research 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 approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup decreased their price objective 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 research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.