New Covenant Trust Company N.A. Sells 192 Shares of Eli Lilly and Company (NYSE:LLY)

New Covenant Trust Company N.A. decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,011 shares of the company’s stock after selling 192 shares during the period. Eli Lilly and Company accounts for about 2.3% of New Covenant Trust Company N.A.’s portfolio, making the stock its 12th biggest holding. New Covenant Trust Company N.A.’s holdings in Eli Lilly and Company were worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after acquiring an additional 157,741 shares during the last quarter. Fisher Asset Management LLC increased its stake in Eli Lilly and Company by 3.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock worth $4,042,276,000 after acquiring an additional 178,007 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Eli Lilly and Company by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,035,084 shares of the company’s stock valued at $3,887,085,000 after acquiring an additional 199,864 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 2.0 %

NYSE:LLY opened at $910.92 on Wednesday. The firm has a 50-day simple moving average of $819.86 and a 200-day simple moving average of $848.03. 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 cap of $863.70 billion, a P/E ratio of 77.79, a P/E/G ratio of 1.40 and a beta of 0.42. 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 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 return on equity of 85.24% and a net margin of 23.51%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS 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 repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are 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. This represents a $6.00 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LLY. Wells Fargo & Company decreased their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Citigroup decreased their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Truist Financial increased their price target on 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

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.