Toronto Dominion Bank Trims Stock Holdings in Novartis AG (NYSE:NVS)

Toronto Dominion Bank decreased its holdings in Novartis AG (NYSE:NVS) by 74.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,746 shares of the company’s stock after selling 10,718 shares during the period. Toronto Dominion Bank’s holdings in Novartis were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hayek Kallen Investment Management increased its stake in shares of Novartis by 0.3% in the second quarter. Hayek Kallen Investment Management now owns 43,323 shares of the company’s stock worth $3,953,000 after purchasing an additional 124 shares in the last quarter. Pointe Capital Management LLC increased its stake in shares of Novartis by 3.6% in the second quarter. Pointe Capital Management LLC now owns 3,608 shares of the company’s stock worth $329,000 after purchasing an additional 125 shares in the last quarter. Mather Group LLC. increased its stake in shares of Novartis by 2.4% in the third quarter. Mather Group LLC. now owns 5,619 shares of the company’s stock worth $459,000 after purchasing an additional 130 shares in the last quarter. Argent Advisors Inc. increased its stake in shares of Novartis by 4.3% in the third quarter. Argent Advisors Inc. now owns 3,126 shares of the company’s stock worth $256,000 after purchasing an additional 130 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Novartis by 3.8% in the third quarter. Global Retirement Partners LLC now owns 3,564 shares of the company’s stock worth $291,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 9.82% of the company’s stock.

Several equities analysts recently commented on NVS shares. Exane BNP Paribas cut shares of Novartis from an “outperform” rating to a “neutral” rating and set a CHF 85 price objective for the company. in a research note on Monday, December 6th. Deutsche Bank Aktiengesellschaft cut shares of Novartis from a “hold” rating to a “sell” rating in a research note on Monday, September 20th. Redburn Partners cut shares of Novartis from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 14th. Berenberg Bank reaffirmed a “buy” rating on shares of Novartis in a research note on Tuesday, October 12th. Finally, UBS Group cut shares of Novartis from a “buy” rating to a “neutral” rating in a research note on Friday, November 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.75.

Shares of Novartis stock opened at $90.55 on Friday. Novartis AG has a 1 year low of $79.34 and a 1 year high of $98.52. The firm has a market cap of $202.54 billion, a PE ratio of 20.91, a PEG ratio of 2.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.88 and a quick ratio of 0.65. The company has a 50 day simple moving average of $84.12 and a two-hundred day simple moving average of $86.81.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Monday, October 25th. The company reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The firm had revenue of $13.03 billion during the quarter, compared to analyst estimates of $13.02 billion. Novartis had a net margin of 19.17% and a return on equity of 25.64%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. As a group, research analysts anticipate that Novartis AG will post 6.34 earnings per share for the current year.

About Novartis

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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