Kuhn & Co Investment Counsel Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Kuhn & Co Investment Counsel cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,576 shares of the company’s stock after selling 95 shares during the quarter. Eli Lilly and Company comprises about 2.3% of Kuhn & Co Investment Counsel’s investment portfolio, making the stock its 9th biggest holding. Kuhn & Co Investment Counsel’s holdings in Eli Lilly and Company were worth $2,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter worth about $30,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Hara Capital LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter worth about $58,000. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LLY shares. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

LLY opened at $844.82 on Monday. The company has a market cap 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 stock has a 50-day moving average of $794.44 and a 200-day moving average of $844.98. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

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%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. 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. This represents a $6.00 annualized dividend and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

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.