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We bought 25 shares Estee Lauder (EL) at roughly $356.66. We also bought 25 shares Eli Lilly (LLY) at roughly $241.91. We also sold 200 shares Marvell Technology (MRVL) at roughly $92.06.

• The Charitable Trust will now own 100 shares of EL and 425 shares LLY after the trades. There will also be 1,100 shares of MRVL.
• This trim will lower EL’s percentage in the portfolio to approximately 1.07 %. It will also decrease MRVL’s proportion in the portfolio to 2.80%.
• Eli Lilly will see his portfolio weight increase by approximately 2.34% to 2.48%.

We will be trimming down two stocks trading near or above their highs, and buying shares of a healthcare firm that has been unable to participate in the wider market rally.

Estee Lauder, You may now wonder why we don’t sell all our shares. We could channel Steve Miller Band’s inner Steve Miller Band to “take the money, run”, in such a small position. Additionally, we just initiated a new position. ChevronWe do not usually like to buy new stock, so we don’t often put it on before taking it off.

We decided that we would keep the remaining EL. This is a well-run company that has a top-quality franchise. It will continue to benefit as normal travel patterns improve. While we may change our minds about this next leg higher we will continue to view EL in that same way. We don’t trade stocks other than those we believe are core.

The great news is that this trim will secure a 20% gain on the shares we bought in May.

Eli LillyOn Tuesday, shares traded lower on the back of what we consider to be a poorly understood piece of research. Guggenheim analysts reiterated their Buy rating for LLY, and raised their price target from $268 to $272. Guggenheim analysts are still bullish on the company long-term, but they believe that Eli Lilly will not offer below the consensus 2022 earnings per shares guidance. This is according to their December 15 Investor Event.

It’s not something new. If you look back to our write-up of the company’s third-quarter, we specifically called out how the company will face tough year-over-year comps due to a minimal revenue contribution from COVID-19 therapies. Management has already stated that operating margins would be under pressure due to the investments they made in supporting trials and launches of their leading industry pipeline. We expected the market to be better prepared and analysts would adjust their estimates before this information was released. They didn’t and we believe the stock should be bought today, as well as again once guidance has been released.

In the long-term, it is difficult to emphasize how large Eli Lilly’s pipeline of diabetes/obesity drugs tirzepatide (and donanemab) for Alzheimer’s. In fact, Guggenheim said in their research note today that they forecast “an unprecedented decade of double-digit EPS growth from 2021 – 2031” based on the projects Eli Lilly is working on and the growth of their portfolio.

Marvell TechnologyIt is difficult for us to sell. If you read our analysis of Marvell’s third-quarter earnings reportIf you do, then it is obvious how much we love the company. Matt Murphy, Marvell’s CEO, is a man we believe in and have faith in. He has made Marvell a leader in multi-year secular growth trends such as 5G networking and data center technology. Marvell Tech’s shares rose nearly 30% during the three most recent trading sessions. They have also gained over 90% in the year so far. Although we believe the trend isn’t over, the company must maintain its discipline and trim stocks when they reach new highs. For positions in multiple technology, this is particularly true. Avoiding greed protects you from being caught out if stocks in tech fall dramatically, as the market did over the last month.

Marvell is a significant win for the charity trust over several years. We expect to lock in an increase of approximately 270% in shares that we bought in August 2019

My Charitable Trust now has an official home at the CNBC Investing Club. You can view every portfolio move and receive my market insights before everyone else. Action Alerts Plus has ceased to be affiliated with my writings and the Charitable Trust.

Subscribers to CNBC Investing Club will get a trade alert prior to Jim making a trade. Jim typically waits for a trade signal to be sent before buying or selling stock from his portfolio of charitable trust stocks. Jim will wait five minutes until the market opens to execute a trade if the trade alert has been sent before the trade is executed. Jim will execute the trade if the trade alert has been issued less than 45 minutes prior to the close of the trading day. Jim can wait 72 hours before execution if the alert is issued after he’s spoken on CNBC TV about a stock. See here for the investing disclaimer.

Jim Cramer’s Charitable Trust has a long list of EL, LLY and MRVL.