Pictet Asset Management Holding SA Has $511.35 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Pictet Asset Management Holding SA raised its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 662,370 shares of the company's stock after purchasing an additional 40,778 shares during the period. Pictet Asset Management Holding SA owned 0.07% of Eli Lilly and Company worth $511,350,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Eli Lilly and Company by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 352,620 shares of the company's stock valued at $272,223,000 after acquiring an additional 9,034 shares during the period. Broadway Wealth Solutions Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at $363,000. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $38,692,000. X Square Capital LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $317,000. Finally, New Age Alpha Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $9,866,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $11.22 during trading hours on Monday, reaching $811.29. 1,154,783 shares of the company's stock traded hands, compared to its average volume of 3,617,391. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The business's fifty day simple moving average is $844.31 and its two-hundred day simple moving average is $835.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $769.24 billion, a price-to-earnings ratio of 69.30, a P/E/G ratio of 1.40 and a beta of 0.34.

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Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 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%. Analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LLY. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial boosted their price objective on shares of 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. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Bank of America reiterated a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

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.