Summit Trail Advisors LLC Acquires 603 Shares of Novartis AG (NYSE:NVS)

Summit Trail Advisors LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,780 shares of the company’s stock after purchasing an additional 603 shares during the period. Summit Trail Advisors LLC’s holdings in Novartis were worth $562,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NVS. Centaurus Financial Inc. boosted its holdings in shares of Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after buying an additional 98 shares in the last quarter. FLC Capital Advisors lifted its position in shares of Novartis by 4.4% during the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after acquiring an additional 100 shares during the period. Clear Harbor Asset Management LLC boosted its stake in Novartis by 2.3% during the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares in the last quarter. Allen Wealth Management LLC grew its holdings in Novartis by 1.8% in the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after purchasing an additional 100 shares during the period. Finally, WealthPlan Investment Management LLC increased its stake in Novartis by 1.1% in the third quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company’s stock valued at $1,092,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVS. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Up 0.8 %

Shares of NYSE:NVS opened at $107.73 on Wednesday. The stock has a market cap of $220.20 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.70 and a beta of 0.58. The business’s 50 day moving average is $100.36 and its 200 day moving average is $108.37. Novartis AG has a 12-month low of $92.35 and a 12-month 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.

Novartis (NYSE:NVS) last posted its quarterly earnings data 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 net margin of 23.56% and a return on equity of 37.24%. On average, sell-side analysts forecast that Novartis AG will post 8.42 earnings per share for the current fiscal year.

Novartis 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.