Berkshire Asset Management LLC PA Has $3.12 Million Stake in Eli Lilly and Company (NYSE:LLY)

Berkshire Asset Management LLC PA increased its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,969 shares of the company’s stock after purchasing an additional 83 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Eli Lilly and Company were worth $3,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Andra AP fonden lifted its stake in shares of Eli Lilly and Company by 10.1% in the fourth quarter. Andra AP fonden now owns 63,400 shares of the company’s stock valued at $48,945,000 after buying an additional 5,800 shares during the period. BBR Partners LLC raised its holdings in Eli Lilly and Company by 15.7% in the 4th quarter. BBR Partners LLC now owns 1,846 shares of the company’s stock valued at $1,425,000 after acquiring an additional 250 shares in the last quarter. Destination Wealth Management lifted its position in shares of Eli Lilly and Company by 0.9% in the 4th quarter. Destination Wealth Management now owns 27,580 shares of the company’s stock worth $21,292,000 after acquiring an additional 254 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Eli Lilly and Company by 17.1% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,111 shares of the company’s stock worth $3,946,000 after purchasing an additional 745 shares in the last quarter. Finally, Barden Capital Management Inc. increased its position in shares of Eli Lilly and Company by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 3,117 shares of the company’s stock valued at $2,406,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock opened at $912.73 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The business’s fifty day moving average is $824.92 and its 200-day moving average is $849.05. The company has a market cap of $865.43 billion, a P/E ratio of 77.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 net margin of 23.51% and a return on equity of 85.24%. Equities research analysts forecast 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 authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s payout ratio is currently 51.24%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. 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 target price on the stock. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,007.50.

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.