Nicholas Hoffman & Company LLC. Sells 147 Shares of Eli Lilly and Company (NYSE:LLY)

Nicholas Hoffman & Company LLC. trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 11,880 shares of the company’s stock after selling 147 shares during the quarter. Eli Lilly and Company comprises approximately 0.5% of Nicholas Hoffman & Company LLC.’s investment portfolio, making the stock its 18th biggest position. Nicholas Hoffman & Company LLC.’s holdings in Eli Lilly and Company were worth $10,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. GQG Partners LLC lifted its holdings in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of Eli Lilly and Company by 8.1% in the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80. Following the sale, the insider now directly owns 97,793,810 shares in the company, valued at approximately $84,178,955,771.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 876,900 shares of company stock valued at $788,605,032. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Stock Down 2.5 %

LLY stock traded down $24.08 during trading on Thursday, reaching $922.23. 807,166 shares of the stock were exchanged, compared to its average volume of 3,046,994. The firm’s 50 day moving average is $895.96 and its 200 day moving average is $826.05. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market cap of $876.49 billion, a P/E ratio of 138.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, research analysts forecast that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.