Patton Fund Management Inc. Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Patton Fund Management Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,164 shares of the company’s stock after selling 425 shares during the period. Eli Lilly and Company accounts for 1.3% of Patton Fund Management Inc.’s investment portfolio, making the stock its 19th largest position. Patton Fund Management Inc.’s holdings in Eli Lilly and Company were worth $6,347,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Planning LLC acquired a new position in Eli Lilly and Company during the first quarter worth $262,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $6,916,000. M&G Plc acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $8,896,000. BTC Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $1,432,000. Finally, High Net Worth Advisory Group LLC lifted its stake in shares of Eli Lilly and Company by 1.4% in the 1st quarter. High Net Worth Advisory Group LLC now owns 4,919 shares of the company’s stock valued at $3,827,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.3 %

Shares of LLY traded up $3.16 during mid-day trading on Thursday, reaching $919.58. The company’s stock had a trading volume of 663,355 shares, compared to its average volume of 2,980,229. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The stock has a market cap of $873.97 billion, a PE ratio of 135.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company’s 50 day moving average is $919.25 and its 200 day moving average is $855.84.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Equities analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. BMO Capital Markets increased their target price 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. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday. They set an “outperform” rating and a $1,100.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Eli Lilly and Company 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.