Kingsview Wealth Management LLC Acquires 5,600 Shares of Eli Lilly and Company (NYSE:LLY)

Kingsview Wealth Management LLC boosted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,445 shares of the company's stock after purchasing an additional 5,600 shares during the quarter. Eli Lilly and Company comprises approximately 1.1% of Kingsview Wealth Management LLC's portfolio, making the stock its 15th biggest holding. Kingsview Wealth Management LLC's holdings in Eli Lilly and Company were worth $57,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LLY. WestEnd Advisors LLC raised 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 worth $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in 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 worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter worth $48,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on LLY shares. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded up $10.28 during trading on Friday, reaching $771.78. The stock had a trading volume of 3,351,657 shares, compared to its average volume of 3,680,786. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The business's 50-day moving average price is $766.32 and its 200 day moving average price is $799.83. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market capitalization of $731.45 billion, a PE ratio of 62.80, a P/E/G ratio of 1.15 and a beta of 0.40.

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

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

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.