Eli Lilly and Company $LLY Stock: Carnegie Investment Counsel Increases Stake

Key Points

• Carnegie Investment Counsel increased its Eli Lilly stake by 46.5% in the third quarter, bringing its holdings to 16,281 shares valued at approximately $18.8 million. Institutional investors and hedge funds collectively own 82.53% of LLY.
• Eli Lilly reported strong recent results, with revenue up 47.7% year over year to $22.97 billion and EPS of $8.38, exceeding analyst expectations. Growth is being driven primarily by its Mounjaro and Zepbound GLP-1 franchises, supported by major manufacturing investments.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $1,317.93 target price, but risks include elevated valuation, falling realized prices, intensifying obesity-drug competition and upcoming earnings volatility.

Carnegie Investment Counsel boosted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 46.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,281 shares of the company's stock after acquiring an additional 5,167 shares during the period. Carnegie Investment Counsel's holdings in Eli Lilly and Company were worth $18,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Eli Lilly and Company by 1.6% during the 2nd 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 last quarter. State Street Corp boosted its stake 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 valued at $43,438,262,000 after purchasing an additional 605,752 shares during the period. Bank of America Corp DE acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 buying an additional 137,364 shares during the period. Finally, Jennison Associates LLC increased its position in Eli Lilly and Company by 7.9% in the 2nd quarter. Jennison Associates LLC now owns 5,461,416 shares of the company's stock worth $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.

Eli Lilly and Company News Roundup

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

• Positive Sentiment: GLP-1 leadership remains the central growth catalyst. Lilly’s Mounjaro and Zepbound franchises continue to drive explosive growth in cardiometabolic and incretin medicines, strengthening the bull case relative to more diversified peers such as Amgen and Bristol Myers Squibb. Amgen vs. Eli Lilly: Does the GLP-1 Mania Make LLY Stock a Better Buy in 2026?
• Positive Sentiment: Lilly is expanding production capacity. The company broke ground on a $5 billion Richmond, Virginia, facility as part of a more than $50 billion U.S. manufacturing build-out. The integrated site will produce active ingredients and finished medicines, including next-generation cancer treatments, and is expected to create 650 jobs. The investment could help Lilly meet demand while reducing supply constraints. Lilly breaks ground in Richmond
• Positive Sentiment: International manufacturing and logistics deals add scale. Partnerships involving Abu Dhabi-based Mubadala Bio are expected to support local packaging, logistics and contract manufacturing for Lilly’s GLP-1 medicines, improving regional distribution and market access. Lilly and Mubadala Bio sign deal
• Neutral Sentiment: Upcoming quarterly results are the next major test. Lilly is scheduled to report earnings Thursday, with investors focused on sales growth, prescription volume, pricing, supply and updated guidance. The stock’s strong run and elevated valuation increase the potential for volatility around the report. Earnings Preview: Eli Lilly Q3 Earnings Expected to Decline
• Negative Sentiment: Profitability could face pricing pressure. In the second quarter, revenue grew 48% on a 60% increase in medicine volume, but average realized prices fell 13%. This suggests Lilly must sustain exceptional volume growth to offset lower pricing, a concern ahead of its results. Eli Lilly Grew Revenue 48% While Prices Fell
• Negative Sentiment: Competition in obesity drugs is intensifying. Novo Nordisk’s CagriSema produced substantial weight-loss results, highlighting a potential competitive threat to Lilly’s GLP-1 dominance and reinforcing concerns that the stock’s premium valuation already reflects significant future growth. Obesity ETFs to Gain as Novo’s CagriSema Shows 25% Weight Loss

Eli Lilly and Company Stock Up 2.9%

LLY opened at $1,308.21 on Friday. Eli Lilly and Company has a fifty-two week low of $806.02 and a fifty-two week high of $1,321.21. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 1.00. The firm's fifty day moving average price is $1,184.78 and its two-hundred day moving average price is $1,119.15. The company has a market capitalization of $1.23 trillion, a P/E ratio of 43.90, a P/E/G ratio of 1.69 and a beta of 0.46.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $8.38 EPS for the quarter, topping analysts' consensus estimates of $6.40 by $1.98. Eli Lilly and Company had a net margin of 33.53% and a return on equity of 97.83%. The company had revenue of $22.97 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the firm earned $6.31 EPS. The firm's revenue for the quarter was up 47.7% compared to the same quarter last year. Eli Lilly and Company has set its FY 2026 guidance at 35.500-36.500 EPS. On average, analysts anticipate that Eli Lilly and Company will post 33.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LLY. Cantor Fitzgerald increased their price objective on Eli Lilly and Company from $1,410.00 to $1,440.00 and gave the company an "overweight" rating in a research report on Thursday, October 8th. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,370.00 to $1,376.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Bank of America upped their target price on shares of Eli Lilly and Company from $1,251.00 to $1,334.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus target price of $1,317.93.

Insiders Place Their Bets

In other Eli Lilly and Company news, EVP Anat Hakim sold 5,000 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $1,190.00, for a total transaction of $5,950,000.00. Following the sale, the executive vice president directly owned 11,875 shares of the company's stock, valued at approximately $14,131,250. The trade was a 29.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction that occurred on 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 directly owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. 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 worth $15,958,170 over the last quarter. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Company Profile

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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