Berkshire Asset Management LLC PA Purchases 83 Shares of Eli Lilly and Company (NYSE:LLY)

Berkshire Asset Management LLC PA grew its position in Eli Lilly and Company (NYSE:LLY) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,969 shares of the company’s stock after acquiring an additional 83 shares during the period. Berkshire Asset Management LLC PA’s holdings in Eli Lilly and Company were worth $3,118,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Beacon Financial Advisory LLC lifted its position in Eli Lilly and Company by 15.7% during the third quarter. Beacon Financial Advisory LLC now owns 272 shares of the company’s stock worth $241,000 after acquiring an additional 37 shares during the last quarter. D.B. Root & Company LLC boosted its position in shares of Eli Lilly and Company by 9.5% in the third quarter. D.B. Root & Company LLC now owns 402 shares of the company’s stock valued at $356,000 after acquiring an additional 35 shares during the period. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company in the third quarter valued at about $456,000. Graypoint LLC grew its stake in shares of Eli Lilly and Company by 4.9% in the third quarter. Graypoint LLC now owns 8,319 shares of the company’s stock valued at $7,370,000 after acquiring an additional 386 shares in the last quarter. Finally, Advisor Resource Council bought a new position in Eli Lilly and Company during the third quarter worth about $884,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LLY. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Price Performance

LLY stock opened at $912.73 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company’s 50-day moving average is $824.92 and its 200-day moving average is $849.05. The stock has a market capitalization of $865.43 billion, a PE ratio of 77.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS 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 85.24%. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company announced that its Board of Directors has initiated 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 purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About Eli Lilly and Company

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.