King Wealth Management Group Acquires 57 Shares of Eli Lilly and Company (NYSE:LLY)

King Wealth Management Group lifted its position in Eli Lilly and Company (NYSE:LLY) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,480 shares of the company’s stock after purchasing an additional 57 shares during the quarter. Eli Lilly and Company comprises about 3.5% of King Wealth Management Group’s holdings, making the stock its 8th biggest holding. King Wealth Management Group’s holdings in Eli Lilly and Company were worth $22,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $785.95 on Friday. The business has a 50 day simple moving average of $888.32 and a 200 day simple moving average of $870.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $746.12 billion, a price-to-earnings ratio of 84.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on 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. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday. They issued an “outperform” rating and a $1,000.00 price target for the company. Bank of America dropped their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

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.