Kingsman Wealth Management Inc. Invests $1.70 Million in Eli Lilly and Company (NYSE:LLY)

Kingsman Wealth Management Inc. bought a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,061 shares of the company's stock, valued at approximately $1,702,000. Eli Lilly and Company makes up about 1.2% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WestEnd Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC grew its position in Eli Lilly and Company by 25.5% during the first 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. Institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group lowered 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 report on Friday, May 2nd. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim increased their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Down 1.2%

NYSE:LLY traded down $9.49 during trading hours on Monday, hitting $762.22. 3,050,837 shares of the stock traded hands, compared to its average volume of 3,662,015. The firm has a 50 day moving average price of $767.03 and a 200 day moving average price of $800.17. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market cap of $722.39 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company's quarterly revenue was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.79%. Eli Lilly and Company's payout ratio is presently 48.82%.

Eli Lilly and 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.