Truist Financial Corp Grows Holdings in Novartis AG (NYSE:NVS)

Truist Financial Corp boosted its holdings in shares of Novartis AG (NYSE:NVS) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,655 shares of the company’s stock after acquiring an additional 27,092 shares during the period. Truist Financial Corp’s holdings in Novartis were worth $75,090,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Foundations Investment Advisors LLC lifted its holdings in shares of Novartis by 26.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after purchasing an additional 18,894 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Novartis by 115.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock valued at $26,797,000 after buying an additional 124,111 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after buying an additional 5,164 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Novartis by 135.5% in the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock worth $4,598,000 after acquiring an additional 22,998 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Novartis in the fourth quarter worth $239,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 2.1 %

NYSE NVS opened at $105.43 on Tuesday. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $100.70 and a two-hundred day moving average of $108.25. The firm has a market capitalization of $215.50 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, analysts predict that Novartis AG will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Finally, BMO Capital Markets lifted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.38.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.