King Wealth Management Group Lowers Stake in Eli Lilly and Company $LLY

King Wealth Management Group reduced its position in Eli Lilly and Company (NYSE:LLY) by 34.8% in the second quarter, HoldingsChannel.com reports. The firm owned 16,538 shares of the company’s stock after selling 8,830 shares during the period. Eli Lilly and Company accounts for approximately 1.7% of King Wealth Management Group’s investment portfolio, making the stock its 15th biggest holding. King Wealth Management Group’s holdings in Eli Lilly and Company were worth $12,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Wealth Preservation Advisors LLC bought a new stake in Eli Lilly and Company during the first quarter valued at about $27,000. Blume Capital Management Inc. grew its position in shares of Eli Lilly and Company by 46.7% during the second quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock worth $34,000 after purchasing an additional 14 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in Eli Lilly and Company during the 2nd quarter valued at approximately $35,000. TD Capital Management LLC raised its stake in Eli Lilly and Company by 129.2% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the company’s stock valued at $46,000 after purchasing an additional 31 shares during the period. Finally, Family CFO Inc purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $54,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $1,022.00 on Friday. The company’s 50-day moving average price is $820.93 and its 200-day moving average price is $779.85. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market cap of $966.19 billion, a PE ratio of 66.80, a price-to-earnings-growth ratio of 1.21 and a beta of 0.43. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $1,032.95.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The firm’s revenue for the quarter was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 29.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Eli Lilly and Company from $1,090.00 to $1,171.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald lifted their price target on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen raised Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $999.32.

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.