Bank Pictet & Cie Europe AG Purchases 2,174 Shares of Eli Lilly and Company (NYSE:LLY)

Bank Pictet & Cie Europe AG raised its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,932 shares of the company's stock after purchasing an additional 2,174 shares during the period. Eli Lilly and Company accounts for approximately 1.3% of Bank Pictet & Cie Europe AG's holdings, making the stock its 22nd biggest position. Bank Pictet & Cie Europe AG's holdings in Eli Lilly and Company were worth $55,280,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $43,000. FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth $48,000. Capital A Wealth Management LLC acquired a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $66,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, UBS Group dropped their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Price Performance

LLY traded down $15.97 during trading on Tuesday, hitting $791.61. 2,873,403 shares of the stock traded hands, compared to its average volume of 3,656,332. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The business has a 50 day moving average price of $777.10 and a 200 day moving average price of $801.77. 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 company has a market cap of $750.24 billion, a price-to-earnings ratio of 58.69, a PEG ratio of 1.18 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 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The business's quarterly revenue was up 45.2% compared to the same quarter last year. Equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company's dividend payout ratio 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.