Patton Fund Management Inc. Decreases Position in Eli Lilly and Company (NYSE:LLY)

by · The Markets Daily

Patton Fund Management Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 7,164 shares of the company’s stock after selling 425 shares during the quarter. Eli Lilly and Company comprises approximately 1.3% of Patton Fund Management Inc.’s holdings, making the stock its 19th biggest position. Patton Fund Management Inc.’s holdings in Eli Lilly and Company were worth $6,347,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Abner Herrman & Brock LLC increased its stake in Eli Lilly and Company by 1.4% in the first quarter. Abner Herrman & Brock LLC now owns 26,372 shares of the company’s stock valued at $20,517,000 after purchasing an additional 373 shares during the last quarter. Rise Advisors LLC increased its stake in Eli Lilly and Company by 112.3% in the first quarter. Rise Advisors LLC now owns 760 shares of the company’s stock valued at $592,000 after purchasing an additional 402 shares during the last quarter. Farmers Trust Co. grew its position in Eli Lilly and Company by 19.3% during the first quarter. Farmers Trust Co. now owns 494 shares of the company’s stock valued at $384,000 after acquiring an additional 80 shares during the period. Foster Group Inc. grew its position in Eli Lilly and Company by 3.2% during the first quarter. Foster Group Inc. now owns 1,641 shares of the company’s stock valued at $1,277,000 after acquiring an additional 51 shares during the period. Finally, New Hampshire Trust grew its position in Eli Lilly and Company by 4.1% during the first quarter. New Hampshire Trust now owns 714 shares of the company’s stock valued at $555,000 after acquiring an additional 28 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY traded up $3.16 during trading hours on Thursday, hitting $919.58. The company’s stock had a trading volume of 663,355 shares, compared to its average volume of 2,980,229. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $873.97 billion, a PE ratio of 135.77, a PEG ratio of 2.79 and a beta of 0.42. The company has a 50-day simple moving average of $919.25 and a 200 day simple moving average of $855.84.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted 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. 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 analysts’ expectations of $9.83 billion. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Guggenheim increased their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Read Our Latest Analysis on Eli Lilly and Company

About Eli Lilly and Company

(Free Report)

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.

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