Novartis AG (NYSE:NVS) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. boosted its position in Novartis AG (NYSE:NVS) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,577 shares of the company’s stock after buying an additional 1,758 shares during the quarter. Whittier Trust Co.’s holdings in Novartis were worth $5,622,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Winslow Evans & Crocker Inc. increased its position in shares of Novartis by 11.8% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock worth $102,000 after purchasing an additional 114 shares during the last quarter. Old Port Advisors increased its position in shares of Novartis by 4.5% in the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after purchasing an additional 116 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Novartis by 1.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock worth $1,022,000 after purchasing an additional 125 shares during the last quarter. Legacy Bridge LLC increased its position in shares of Novartis by 7.5% in the 1st quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock worth $177,000 after purchasing an additional 128 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its position in shares of Novartis by 5.7% in the 1st quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock worth $235,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.

Shares of NYSE:NVS traded down $0.13 during trading on Friday, reaching $92.18. 1,308,279 shares of the company’s stock traded hands, compared to its average volume of 2,201,743. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74. Novartis AG has a 12 month low of $71.33 and a 12 month high of $95.00. The company’s 50 day moving average is $91.51. The stock has a market cap of $211.49 billion, a PE ratio of 18.11, a P/E/G ratio of 2.08 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The business had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Novartis AG will post 5.06 EPS for the current year.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a research report on Wednesday, April 24th. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Novartis currently has a consensus rating of “Hold” and an average price target of $90.63.

Novartis Company 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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