Hardin Capital Partners LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Hardin Capital Partners LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,270 shares of the company’s stock after selling 19 shares during the period. Eli Lilly and Company comprises approximately 0.6% of Hardin Capital Partners LLC’s investment portfolio, making the stock its 26th largest holding. Hardin Capital Partners LLC’s holdings in Eli Lilly and Company were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Proficio Capital Partners LLC lifted its holdings in 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 purchasing an additional 5,197,038 shares in 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 boosted its holdings 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 purchasing an additional 932,309 shares during the period. Polen Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 164.4% in the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock worth $1,000,040,000 after purchasing an additional 805,434 shares during the period. Finally, Essential Planning LLC. boosted its stake in 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 valued at $593,544,000 after buying an additional 705,076 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 1.5 %

Shares of NYSE LLY opened at $852.35 on Wednesday. The stock has a market capitalization of $808.17 billion, a P/E ratio of 72.79, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business’s 50 day moving average is $839.56 and its two-hundred day moving average is $837.61. 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 released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a 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 research report on Tuesday, December 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price objective on 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, Truist Financial increased their target price on shares of 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and 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.