Community Bank N.A. Acquires 5,881 Shares of Novartis AG (NYSE:NVS)

Community Bank N.A. increased its holdings in Novartis AG (NYSE:NVS) by 56.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,359 shares of the company’s stock after acquiring an additional 5,881 shares during the period. Community Bank N.A.’s holdings in Novartis were worth $1,428,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Novartis by 1.5% in the fourth quarter. Alliancebernstein L.P. now owns 29,533 shares of the company’s stock worth $2,796,000 after purchasing an additional 428 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Novartis by 1.1% during the 4th quarter. Sunbelt Securities Inc. now owns 11,917 shares of the company’s stock valued at $1,128,000 after acquiring an additional 132 shares in the last quarter. Verus Capital Partners LLC bought a new stake in Novartis during the 4th quarter valued at approximately $78,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Novartis during the 4th quarter valued at approximately $142,000. Finally, Fulton Bank N.A. boosted its position in Novartis by 85.8% during the 1st quarter. Fulton Bank N.A. now owns 5,919 shares of the company’s stock valued at $488,000 after acquiring an additional 2,733 shares in the last quarter. 10.80% of the stock is owned by institutional investors.

Several analysts have weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Novartis in a research report on Tuesday. Citigroup raised Novartis from a “neutral” rating to a “buy” rating in a research report on Monday, June 15th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research report on Friday, June 5th. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Novartis currently has a consensus rating of “Hold” and a consensus target price of $108.00.

Shares of NVS stock traded down $2.09 during trading hours on Friday, hitting $82.14. 2,341,202 shares of the company’s stock traded hands, compared to its average volume of 1,477,156. The stock’s fifty day simple moving average is $87.16 and its two-hundred day simple moving average is $87.43. Novartis AG has a 12-month low of $69.18 and a 12-month high of $99.84. The stock has a market cap of $192.78 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.82 and a beta of 0.50. The company has a quick ratio of 0.58, a current ratio of 0.81 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.77 billion. Novartis had a net margin of 14.96% and a return on equity of 24.14%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 EPS. On average, equities analysts forecast that Novartis AG will post 5.67 earnings per share for the current fiscal year.

Novartis Profile

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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