Pictet Asset Management Holding SA Increases Stake in Eli Lilly and Company (NYSE:LLY)

Pictet Asset Management Holding SA grew its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 696,614 shares of the company's stock after buying an additional 34,244 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Eli Lilly and Company worth $575,305,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Knightsbridge Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after buying an additional 40 shares in the last quarter. Prism Advisors Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $207,000. CSM Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in shares of Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim increased their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $10.28 during trading hours on Friday, hitting $771.78. 3,351,657 shares of the company's stock traded hands, compared to its average volume of 3,664,913. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The stock has a market capitalization of $731.45 billion, a price-to-earnings ratio of 62.80, a PEG ratio of 1.11 and a beta of 0.40. The company has a fifty day simple moving average of $767.03 and a 200-day simple moving average of $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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

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.