Somerset Trust Co Has $1.59 Million Position in Novartis AG (NYSE:NVS)

Somerset Trust Co lifted its stake in Novartis AG (NYSE:NVS) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,809 shares of the company’s stock after purchasing an additional 272 shares during the period. Somerset Trust Co’s holdings in Novartis were worth $1,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Grimes & Company Inc. lifted its holdings in shares of Novartis by 1.8% during the 3rd quarter. Grimes & Company Inc. now owns 67,722 shares of the company’s stock worth $5,885,000 after acquiring an additional 1,170 shares during the period. Bangor Savings Bank bought a new stake in Novartis in the third quarter worth about $212,000. Kovack Advisors Inc. purchased a new position in shares of Novartis in the third quarter worth about $375,000. Creative Planning grew its stake in Novartis by 0.4% during the third quarter. Creative Planning now owns 73,993 shares of the company’s stock valued at $6,430,000 after acquiring an additional 328 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Novartis by 41.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,444 shares of the company’s stock valued at $647,000 after acquiring an additional 2,164 shares in the last quarter. 10.62% of the stock is owned by hedge funds and other institutional investors.

NYSE:NVS traded up $0.65 during mid-day trading on Friday, reaching $95.75. 1,134,088 shares of the stock were exchanged, compared to its average volume of 1,275,271. The company has a 50 day simple moving average of $93.70 and a 200-day simple moving average of $90.26. The stock has a market capitalization of $217.95 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.95 and a beta of 0.59. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.42. Novartis AG has a 1 year low of $74.70 and a 1 year high of $95.66.

Novartis (NYSE:NVS) last posted its quarterly earnings results 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. The firm had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $11.67 billion. Novartis had a return on equity of 20.86% and a net margin of 24.43%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. As a group, research analysts predict that Novartis AG will post 5.23 EPS for the current year.

A number of brokerages have issued reports on NVS. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Cowen restated a “buy” rating and set a $100.00 target price on shares of Novartis in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus price target of $93.34.

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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