Eli Lilly and Company $LLY Stake Trimmed by Convergence Financial LLC

Key Points

• Convergence Financial LLC cut its Eli Lilly stake by 50.5% in the third quarter, selling 4,292 shares and retaining 4,215 shares valued at approximately $4.88 billion. Institutional investors collectively own 82.53% of the company.
• Eli Lilly reported strong quarterly results, with revenue rising 38.6% year over year to $24.4 billion and EPS of $7.48 surpassing estimates. The company also raised its 2026 revenue forecast to $91 billion–$92 billion, supported by continued demand for its GLP-1 medicines.
• The stock was trading near its 12-month high, while analysts maintained a generally bullish outlook with a consensus “Moderate Buy” rating and a $1,398.43 price target. Risks include elevated valuation, pricing pressure and heavy reliance on GLP-1 products.

Convergence Financial LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 50.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the company's stock after selling 4,292 shares during the period. Convergence Financial LLC's holdings in Eli Lilly and Company were worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Eli Lilly and Company by 1.6% in the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company's stock worth $81,009,981,000 after purchasing an additional 1,046,558 shares during the period. State Street Corp grew its holdings in Eli Lilly and Company by 1.7% during the 2nd quarter. State Street Corp now owns 36,215,754 shares of the company's stock worth $43,438,262,000 after acquiring an additional 605,752 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eli Lilly and Company by 1.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company's stock worth $8,647,153,000 after purchasing an additional 137,364 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Eli Lilly and Company by 7.9% in the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company's stock valued at $6,550,587,000 after buying an additional 400,538 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Activity at Eli Lilly and Company

In other news, EVP Patrik Jonsson sold 6,500 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the transaction, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald Zakrowski sold 2,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the completion of the transaction, the chief accounting officer owned 1,526 shares of the company's stock, valued at $1,808,325.26. The trade was a 56.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 13,500 shares of company stock valued at $15,958,170. Corporate insiders own 0.14% of the company's stock.

Eli Lilly and Company Trading Up 3.1%

LLY opened at $1,415.64 on Friday. The stock has a 50-day moving average of $1,197.72 and a 200 day moving average of $1,092.57. Eli Lilly and Company has a 12 month low of $834.19 and a 12 month high of $1,449.68. The firm has a market cap of $1.33 trillion, a P/E ratio of 45.95, a P/E/G ratio of 1.73 and a beta of 0.46. The company has a current ratio of 1.35, a quick ratio of 1.00 and a debt-to-equity ratio of 1.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping analysts' consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 93.68%. The business had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. During the same period in the prior year, the firm earned $7.02 EPS. The company's revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, research analysts forecast that Eli Lilly and Company will post 35.50 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company's payout ratio is presently 23.22%.

Eli Lilly and Company News Summary

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

• Positive Sentiment: Q3 results substantially beat expectations. Revenue rose 39% year over year to $24.4 billion, while adjusted EPS was $7.48 versus the $5.68 consensus estimate. Mounjaro sales increased 65% to $10.7 billion and Zepbound sales rose 49% to $5.35 billion. Lilly third-quarter results
• Positive Sentiment: Lilly raised its 2026 revenue forecast to $91 billion-$92 billion, up from $85 billion-$87 billion previously. Strong demand, broader Medicare access and growing middle-income adoption are supporting expectations for continued GLP-1 expansion. Q3 earnings call highlights
• Positive Sentiment: Analysts raised their price targets and maintained bullish ratings. Scotiabank lifted its target to $1,605 with a “sector outperform” rating, Morgan Stanley raised its target to $1,596 with an “overweight” rating, and RBC moved to $1,600 with an “outperform” rating. Analyst commentary
• Positive Sentiment: Pipeline and portfolio diversification offer additional upside. Positive Phase 3 retatrutide data strengthened Lilly’s competitive position against Novo Nordisk, while oncology, immunology and neuroscience products are beginning to contribute more meaningfully. Lilly growth opportunities
• Negative Sentiment: Investors face execution and valuation risks. Realized prices fell 15%, meaning volume growth must continue to offset pricing pressure. Results also benefited from roughly $900 million in one-time items, and acquired in-process research charges weighed on earnings. With GLP-1 drugs representing a large share of revenue and the stock near its high, expectations are elevated. Reuters earnings report

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Argus raised their target price on Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group reaffirmed a "buy" rating and set a $1,625.00 price objective on shares of Eli Lilly and Company in a report on Friday. Scotiabank boosted their price target on shares of Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the stock a "sector outperform" rating in a research note on Friday. Finally, Cantor Fitzgerald lifted their price objective on Eli Lilly and Company from $1,410.00 to $1,440.00 and gave the stock an "overweight" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,398.43.

About Eli Lilly and Company

Eli Lilly and Company NYSE: LLY is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company's portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer's disease.

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