Kingsview Wealth Management LLC Has $49.29 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Kingsview Wealth Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,845 shares of the company’s stock after acquiring an additional 9,166 shares during the quarter. Eli Lilly and Company makes up approximately 1.0% of Kingsview Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Kingsview Wealth Management LLC’s holdings in Eli Lilly and Company were worth $49,288,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. CWA Asset Management Group LLC grew its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp grew its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Cooper Financial Group increased its position in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. Everence Capital Management Inc. lifted its holdings in shares of Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after purchasing an additional 690 shares during the period. Finally, Jacobs & Co. CA grew its stake in shares of Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after purchasing an additional 7,646 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on LLY shares. Wells Fargo & Company cut their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup dropped their target price on shares of 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. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Up 0.9 %

Shares of NYSE:LLY opened at $878.09 on Monday. The business’s 50 day moving average is $789.87 and its 200 day moving average is $843.31. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The stock has a market cap of $833.58 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

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.