King Wealth Management Group Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

King Wealth Management Group raised its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,120 shares of the company's stock after purchasing an additional 640 shares during the period. Eli Lilly and Company makes up approximately 2.9% of King Wealth Management Group's holdings, making the stock its 10th largest holding. King Wealth Management Group's holdings in Eli Lilly and Company were worth $20,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. grew its stake in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $50,000. Institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,009.72.

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Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $798.39 on Friday. The stock has a market capitalization of $757.01 billion, a price-to-earnings ratio of 68.18, a PEG ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The firm has a fifty day simple moving average of $830.18 and a 200 day simple moving average of $844.96.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Eli Lilly and Company 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.

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