Patton Fund Management Inc. Has $4.14 Million Stake in Eli Lilly and Company (NYSE:LLY)

Patton Fund Management Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 101.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,817 shares of the company’s stock after acquiring an additional 4,435 shares during the quarter. Eli Lilly and Company accounts for about 1.2% of Patton Fund Management Inc.’s holdings, making the stock its 12th biggest position. Patton Fund Management Inc.’s holdings in Eli Lilly and Company were worth $4,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Silicon Valley Capital Partners acquired a new position in shares of Eli Lilly and Company during the first quarter valued at about $25,000. Bogart Wealth LLC raised its stake in shares of Eli Lilly and Company by 193.3% in the first quarter. Bogart Wealth LLC now owns 88 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Laffer Tengler Investments purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at $37,000. Finally, Freedom Wealth Alliance LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth $37,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Eli Lilly and Company Trading Up 0.8 %

Shares of NYSE:LLY traded up $4.58 on Tuesday, reaching $575.86. 357,455 shares of the company traded hands, compared to its average volume of 3,021,931. The stock has a market capitalization of $546.66 billion, a P/E ratio of 80.02, a price-to-earnings-growth ratio of 2.37 and a beta of 0.32. The business’s 50-day simple moving average is $512.56 and its 200 day simple moving average is $439.28. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 1.63. Eli Lilly and Company has a 52 week low of $296.32 and a 52 week high of $601.84.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.13. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the company earned $1.25 EPS. Eli Lilly and Company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Monday, August 14th. Eli Lilly and Company’s payout ratio is 62.87%.

Insider Buying and Selling

In other Eli Lilly and Company news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total value of $678,445.04. Following the completion of the sale, the executive vice president now directly owns 7,760 shares in the company, valued at $4,586,004.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eli Lilly and Company news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the transaction, the executive vice president now owns 7,760 shares of the company’s stock, valued at $4,586,004.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 37,660 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $546,751.75, for a total transaction of $20,590,670,905.00. Following the completion of the sale, the insider now directly owns 100,275,279 shares in the company, valued at $54,825,684,274,988.30. The disclosure for this sale can be found here. Insiders sold 976,153 shares of company stock valued at $21,080,192,113 over the last quarter. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LLY shares. Bank of America boosted their target price on Eli Lilly and Company from $500.00 to $600.00 in a research note on Wednesday, August 9th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $500.00 to $615.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $385.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Finally, Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $375.00 to $500.00 in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $532.78.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.