Bernard Wealth Management Corp. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Bernard Wealth Management Corp. purchased a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 11,076 shares of the company's stock, valued at approximately $8,551,000. Eli Lilly and Company comprises about 3.9% of Bernard Wealth Management Corp.'s portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the last quarter. FWG Holdings LLC lifted its position in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC boosted its stake in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after acquiring an additional 12 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 1.5%

Shares of Eli Lilly and Company stock traded up $11.03 on Tuesday, reaching $724.74. 3,786,668 shares of the company were exchanged, compared to its average volume of 3,623,076. The stock's 50 day moving average price is $786.82 and its 200-day moving average price is $802.40. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market cap of $686.86 billion, a P/E ratio of 61.89, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm's revenue was up 45.2% compared to the same quarter last year. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research report on Friday. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

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.