Convergence Financial LLC Has $3.33 Million Stock Position in Eli Lilly and Company $LLY

Convergence Financial LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 7.3% during the second quarter, HoldingsChannel reports. The fund owned 4,266 shares of the company’s stock after acquiring an additional 291 shares during the quarter. Convergence Financial LLC’s holdings in Eli Lilly and Company were worth $3,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Nuveen LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $4,613,912,000. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Eli Lilly and Company by 106.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock valued at $1,154,508,000 after acquiring an additional 765,010 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Eli Lilly and Company by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after acquiring an additional 682,203 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.1%

Shares of Eli Lilly and Company stock opened at $906.51 on Wednesday. The company has a 50 day simple moving average of $788.17 and a two-hundred day simple moving average of $772.81. The firm has a market cap of $857.98 billion, a PE ratio of 59.25, a PEG ratio of 1.21 and a beta of 0.47. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $935.63. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm’s revenue was up 53.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Analysts expect that Eli Lilly and Company will post 23.48 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 Wednesday, December 10th. Investors of record on Friday, November 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 29.35%.

Insider Transactions at Eli Lilly and Company

In other news, Director J Erik Fyrwald purchased 1,565 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director directly owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. This represents a 2.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Skovronsky acquired 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the purchase, the executive vice president owned 137,660 shares of the company’s stock, valued at approximately $87,331,504. The trade was a 0.73% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Cantor Fitzgerald boosted their price target on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Guggenheim restated a “buy” rating and set a $948.00 price objective on shares of Eli Lilly and Company in a report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eli Lilly and Company in a research note on Wednesday, October 8th. Finally, UBS Group decreased their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Eli Lilly and 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.