Private Trust Co. NA Has $555,000 Stock Position in Novartis AG (NYSE:NVS)

Private Trust Co. NA lifted its holdings in Novartis AG (NYSE:NVS) by 7.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,821 shares of the company’s stock after acquiring an additional 355 shares during the period. Private Trust Co. NA’s holdings in Novartis were worth $555,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Novartis by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Novartis by 191.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after acquiring an additional 1,250,318 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Novartis during the 2nd quarter worth $64,610,000. Bank of Montreal Can increased its position in shares of Novartis by 343.5% in the second quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock worth $70,652,000 after purchasing an additional 509,567 shares during the period. Finally, Wulff Hansen & CO. raised its stake in Novartis by 10,528.6% in the second quarter. Wulff Hansen & CO. now owns 324,171 shares of the company’s stock valued at $34,511,000 after purchasing an additional 321,121 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NVS shares. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and an average price target of $121.50.

Novartis Stock Up 0.3 %

Shares of NYSE:NVS opened at $103.80 on Wednesday. The business’s 50-day moving average is $111.36 and its 200-day moving average is $110.23. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a market capitalization of $212.17 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the firm posted $1.74 earnings per share. Equities research analysts predict that Novartis AG will post 7.66 earnings per share for the current year.

Novartis Company Profile

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.