Novartis AG (NYSE:NVS) Stake Raised by Watch Point Trust Co

Watch Point Trust Co increased its holdings in Novartis AG (NYSE:NVS) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,542 shares of the company’s stock after acquiring an additional 1,993 shares during the period. Novartis comprises about 2.0% of Watch Point Trust Co’s holdings, making the stock its 22nd largest holding. Watch Point Trust Co’s holdings in Novartis were worth $3,697,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Primecap Management Co. CA lifted its stake in Novartis by 7.4% in the 2nd quarter. Primecap Management Co. CA now owns 25,617,640 shares of the company’s stock worth $2,339,147,000 after acquiring an additional 1,760,424 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Novartis by 1.3% during the 2nd quarter. Bank of America Corp DE now owns 9,166,269 shares of the company’s stock worth $836,972,000 after purchasing an additional 115,613 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Novartis by 3.1% during the 3rd quarter. Fisher Asset Management LLC now owns 8,314,984 shares of the company’s stock worth $722,572,000 after purchasing an additional 247,749 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Novartis by 2.3% during the 2nd quarter. Mawer Investment Management Ltd. now owns 5,813,946 shares of the company’s stock worth $530,871,000 after purchasing an additional 133,293 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. raised its stake in shares of Novartis by 2.9% during the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 4,229,178 shares of the company’s stock worth $386,166,000 after purchasing an additional 118,863 shares in the last quarter. 11.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NVS stock traded up $1.38 during trading on Friday, reaching $88.37. The company had a trading volume of 1,366,856 shares, compared to its average volume of 2,204,612. The firm’s 50 day simple moving average is $86.81 and its two-hundred day simple moving average is $87.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.73. Novartis AG has a one year low of $72.19 and a one year high of $95.00. The company has a market capitalization of $199.13 billion, a PE ratio of 17.36, a PEG ratio of 1.94 and a beta of 0.59.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. Novartis had a return on equity of 20.86% and a net margin of 24.43%. The business had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $11.67 billion. During the same period last year, the business earned $1.32 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Analysts forecast that Novartis AG will post 5.16 earnings per share for the current year.

A number of equities research analysts have recently weighed in on NVS shares. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Friday, July 19th. Cowen reaffirmed a “buy” rating and set a $100.00 price target on shares of Novartis in a research note on Friday, October 25th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 29th. Finally, Argus raised their price target on Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Novartis presently has a consensus rating of “Hold” and a consensus target price of $95.28.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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