Washington Trust Bank Reduces Stock Position in Eli Lilly and Company $LLY

Key Points

• Washington Trust Bank reduced its Eli Lilly stake by 6.8% during the second quarter, selling 1,193 shares and retaining 16,334 shares worth approximately $19.6 million.
• Despite the reduction, major institutions including BlackRock, State Street, Morgan Stanley and T. Rowe Price increased their positions; institutional investors collectively own 82.53% of LLY.
• Eli Lilly reported strong quarterly results, with adjusted earnings of $8.38 per share and revenue of $22.97 billion, up 47.7% year over year. Analysts maintain a “Moderate Buy” consensus, though the stock’s valuation remains elevated at nearly 39 times earnings.

Washington Trust Bank reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,334 shares of the company's stock after selling 1,193 shares during the period. Eli Lilly and Company makes up about 1.4% of Washington Trust Bank's holdings, making the stock its 16th largest holding. Washington Trust Bank's holdings in Eli Lilly and Company were worth $19,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Eli Lilly and Company by 1.6% in 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 period. State Street Corp grew its holdings in Eli Lilly and Company by 1.8% during the 4th quarter. State Street Corp now owns 35,361,916 shares of the company's stock valued at $38,002,744,000 after buying an additional 635,358 shares in the last quarter. Morgan Stanley increased its position in shares of Eli Lilly and Company by 2.7% during the fourth quarter. Morgan Stanley now owns 15,593,019 shares of the company's stock valued at $16,757,510,000 after buying an additional 407,166 shares during the period. Capital World Investors lifted its holdings in shares of Eli Lilly and Company by 0.4% in the fourth quarter. Capital World Investors now owns 15,031,750 shares of the company's stock worth $16,154,619,000 after buying an additional 61,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Eli Lilly and Company by 10.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,910,505 shares of the company's stock valued at $16,024,022,000 after acquiring an additional 1,432,069 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company News Summary

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

• Positive Sentiment: Merida acquisition broadens Lilly beyond GLP-1 drugs. Lilly agreed to acquire Merida Biosciences for up to $2.875 billion, adding a platform designed to selectively degrade disease-causing autoantibodies while preserving normal immune function. The deal provides an early-stage pipeline in autoimmune and allergy diseases and represents Lilly’s 10th transaction of 2026, reinforcing management’s effort to diversify its growth drivers. What Does Eli Lilly Gain From Its $2.88 Billion Immunology Deal?
• Positive Sentiment: Clinical and business-development momentum remains favorable. Lilly highlighted its Phase 1 inflammation candidate LY5625575, while its Centessa subsidiary reached a late-stage development milestone for an orexin receptor 2 agonist program. The milestone triggers an $8.6 million payment to partner Nxera Pharma and signals continued progress in Lilly’s broader pipeline. Eli Lilly’s New Phase 1 Inflammation Drug LY5625575 Enters the Spotlight
• Positive Sentiment: Mounjaro expansion into Africa creates a long-term opportunity. Lilly’s partnership with Aspen Pharmacare is initially expected to represent only about 1.25% of quarterly sales, but the launch could establish distribution and market access for Mounjaro across additional African markets. The near-term revenue contribution is small, while the strategic expansion potential is larger. Lilly’s African Mounjaro Push Starts at 1.25% of Quarterly Sales
• Neutral Sentiment: Valuation and execution remain key considerations. Recent coverage points to sustained GLP-1 momentum and Lilly’s strong latest quarter, but the stock trades at a premium valuation. The Merida deal and several early-stage programs could create future growth, although they will require successful clinical development and commercialization.

Insider Buying and Selling

In other news, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company 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 value of $7,638,150.00. Following the sale, the executive vice president directly owned 54,147 shares in the company, valued at approximately $63,628,139.70. This trade represents a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald A. Zakrowski sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the transaction, the chief accounting officer owned 1,526 shares of the company's stock, valued at approximately $1,808,325.26. This represents 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 have sold 13,500 shares of company stock valued at $15,958,170 over the last ninety days. 0.14% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $1,160.98 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.00 and a current ratio of 1.35. Eli Lilly and Company has a fifty-two week low of $712.05 and a fifty-two week high of $1,292.65. The firm has a market cap of $1.09 trillion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 1.44 and a beta of 0.50. The business has a 50 day moving average price of $1,192.90 and a 200-day moving average price of $1,069.12.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $8.38 EPS for the quarter, beating analysts' consensus estimates of $6.40 by $1.98. The company had revenue of $22.97 billion during the quarter, compared to analyst estimates of $20.82 billion. Eli Lilly and Company had a net margin of 33.53% and a return on equity of 97.83%. The firm's revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business posted $6.31 EPS. Eli Lilly and Company has set its FY 2026 guidance at 35.500-36.500 EPS. Equities research analysts predict that Eli Lilly and Company will post 36.35 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Eli Lilly and Company's dividend payout ratio is currently 23.22%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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 stock a "buy" rating in a report on Friday, July 10th. BMO Capital Markets raised shares of Eli Lilly and Company from an "outperform" rating to a "buy" rating in a report on Tuesday. Sanford C. Bernstein raised their price target on Eli Lilly and Company from $1,300.00 to $1,385.00 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Cantor Fitzgerald lifted their price target on Eli Lilly and Company from $1,350.00 to $1,410.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, UBS Group set a $1,376.00 price objective on shares of Eli Lilly and Company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,292.18.

Eli Lilly and Company Profile

Eli Lilly and Company NYSE: LLY is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.

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