Berkshire Asset Management LLC PA Decreases Position in Eli Lilly and Company $LLY

Berkshire Asset Management LLC PA lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,914 shares of the company’s stock after selling 55 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Eli Lilly and Company were worth $2,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. WestEnd Advisors LLC boosted its position in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department raised its holdings in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a report on Wednesday, August 13th. Leerink Partnrs lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective on the stock. in a report on Sunday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $950.17.

Eli Lilly and Company Trading Down 0.3%

Shares of Eli Lilly and Company stock opened at $698.89 on Tuesday. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The company has a market capitalization of $661.47 billion, a P/E ratio of 45.68, a PEG ratio of 0.98 and a beta of 0.44. The company’s fifty day moving average is $763.06 and its two-hundred day moving average is $793.64.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the firm posted $3.92 EPS. Eli Lilly and Company’s revenue for the quarter was up 37.6% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. Eli Lilly and Company’s payout ratio is presently 39.22%.

Insiders Place Their Bets

In other news, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the acquisition, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jamere Jackson bought 200 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director owned 9,402 shares of the company’s stock, valued at approximately $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.14% of the company’s stock.

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.