Berkshire Money Management Inc. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Berkshire Money Management Inc. acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 391 shares of the company’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Geode Capital Management LLC lifted its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after acquiring an additional 85,823 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its position in Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Eli Lilly and Company by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after buying an additional 12,044 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Barclays reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $870.56 on Friday. Eli Lilly and Company has a 12-month low of $707.02 and a 12-month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $826.44 billion, a PE ratio of 94.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The stock has a 50-day moving average price of $786.57 and a 200-day moving average price of $843.28.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. As a group, equities analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. 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 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company 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.