Pictet North America Advisors SA Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Pictet North America Advisors SA lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 75.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,025 shares of the company’s stock after purchasing an additional 3,010 shares during the quarter. Pictet North America Advisors SA’s holdings in Eli Lilly and Company were worth $5,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. boosted its holdings in shares of Eli Lilly and Company by 0.4% during the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after acquiring an additional 14 shares during the period. CGN Advisors LLC increased its holdings in shares of Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock worth $779,000 after acquiring an additional 14 shares during the period. Twin Peaks Wealth Advisors LLC raised its holdings in shares of Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock valued at $559,000 after buying an additional 14 shares during the last quarter. Finally, Pitti Group Wealth Management LLC boosted its position in Eli Lilly and Company by 0.8% during the 1st quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock worth $1,271,000 after acquiring an additional 14 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, July 1st. The Goldman Sachs Group upped their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. BMO Capital Markets reissued an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Finally, Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $816.78.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 93,593 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $918.64, for a total transaction of $85,978,273.52. Following the transaction, the insider now owns 97,153,810 shares in the company, valued at $89,249,376,018.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 93,593 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $918.64, for a total transaction of $85,978,273.52. Following the completion of the sale, the insider now owns 97,153,810 shares of the company’s stock, valued at approximately $89,249,376,018.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,004,704 shares of company stock valued at $869,479,116 in the last 90 days. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $7.70 on Wednesday, reaching $940.20. The stock had a trading volume of 794,748 shares, compared to its average volume of 2,922,015. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $940.40. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The business’s 50-day moving average price is $838.34 and its two-hundred day moving average price is $757.52. The stock has a market cap of $893.58 billion, a P/E ratio of 138.21, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

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.