Eli Lilly and Company $LLY Stock: Pictet Asset Management Holding SA Raises Stake

Pictet Asset Management Holding SA boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 834,060 shares of the company’s stock after purchasing an additional 79,075 shares during the quarter. Eli Lilly and Company comprises 0.9% of Pictet Asset Management Holding SA’s holdings, making the stock its 16th largest holding. Pictet Asset Management Holding SA owned 0.09% of Eli Lilly and Company worth $965,373,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allen Investment Management LLC increased its stake in shares of Eli Lilly and Company by 3.1% in the 3rd quarter. Allen Investment Management LLC now owns 8,877 shares of the company’s stock valued at $10,271,000 after acquiring an additional 264 shares in the last quarter. Formidable Asset Management LLC lifted its position in shares of Eli Lilly and Company by 12.6% during the 3rd quarter. Formidable Asset Management LLC now owns 13,067 shares of the company’s stock valued at $15,673,000 after acquiring an additional 1,460 shares during the period. Verus Capital Partners LLC boosted its stake in Eli Lilly and Company by 3.2% during the third quarter. Verus Capital Partners LLC now owns 1,389 shares of the company’s stock worth $1,607,000 after acquiring an additional 43 shares in the last quarter. Pegasus Asset Management Inc. boosted its stake in Eli Lilly and Company by 0.8% during the third quarter. Pegasus Asset Management Inc. now owns 9,384 shares of the company’s stock worth $10,858,000 after acquiring an additional 78 shares in the last quarter. Finally, American Institute for Advanced Investment Management LLP grew its holdings in Eli Lilly and Company by 4.9% in the third quarter. American Institute for Advanced Investment Management LLP now owns 367 shares of the company’s stock worth $425,000 after purchasing an additional 17 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the sale, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald Zakrowski sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the completion of the transaction, the chief accounting officer directly owned 1,526 shares in the company, valued at approximately $1,808,325.26. The trade was a 56.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,500 shares of company stock valued at $17,020,770 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $1,372.15 on Friday. The company has a fifty day simple moving average of $1,215.24 and a 200 day simple moving average of $1,101.16. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,453.00. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.29 trillion, a P/E ratio of 44.54, a PEG ratio of 1.69 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping the consensus estimate of $5.71 by $1.77. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The firm had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. During the same quarter in the prior year, the company posted $7.02 earnings per share. The business’s revenue was up 38.6% on a year-over-year basis. Sell-side analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $6.92 annualized dividend and a dividend yield of 0.5%. Eli Lilly and Company’s payout ratio is presently 22.46%.

Key Stories Impacting Eli Lilly and Company

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

Analysts Set New Price Targets

Several equities research analysts have weighed in on LLY shares. Bank of America reaffirmed a “buy” rating and issued a $1,497.00 price target on shares of Eli Lilly and Company in a research note on Friday, October 30th. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Scotiabank raised their target price on Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the company a “sector outperform” rating in a research note on Friday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,650.00 target price on shares of Eli Lilly and Company in a research report on Friday, October 30th. Finally, TD Cowen reaffirmed a “buy” rating and set a $1,250.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,404.14.

About Eli Lilly and Company

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management.

The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.