Convergence Financial LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Convergence Financial LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,596 shares of the company’s stock after acquiring an additional 299 shares during the period. Convergence Financial LLC’s holdings in Eli Lilly and Company were worth $3,186,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LLY. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the first quarter valued at $932,797,000. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. boosted its stake in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares during the last quarter. Finally, GQG Partners LLC boosted its stake in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. BMO Capital Markets raised their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Truist Financial raised their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Finally, Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $892.70 on Friday. The company has a market cap of $848.45 billion, a P/E ratio of 109.94, a PEG ratio of 3.24 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. The business’s 50-day simple moving average is $919.74 and its 200 day simple moving average is $862.48.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, sell-side analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

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.