Novartis AG (NVS) Position Cut by Trust Co. of Toledo NA OH
Trust Co. of Toledo NA OH reduced its position in shares of Novartis AG (NYSE:NVS) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 28,787 shares of the company’s stock after selling 788 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Novartis were worth $2,417,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in shares of Novartis during the second quarter valued at about $241,000. Bartlett & Co. LLC increased its position in shares of Novartis by 1.6% during the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after acquiring an additional 7,249 shares during the last quarter. Capital Bank & Trust Co increased its position in shares of Novartis by 5.5% during the third quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock valued at $11,865,000 after acquiring an additional 7,201 shares during the last quarter. Atlantic Trust Group LLC increased its position in shares of Novartis by 54.2% during the third quarter. Atlantic Trust Group LLC now owns 72,427 shares of the company’s stock valued at $6,218,000 after acquiring an additional 25,452 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Novartis during the third quarter valued at about $1,245,000. Hedge funds and other institutional investors own 11.06% of the company’s stock.
Novartis AG (NYSE NVS) opened at $83.87 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31. The firm has a market cap of $192,928.22, a P/E ratio of 25.80, a P/E/G ratio of 1.94 and a beta of 0.73. Novartis AG has a twelve month low of $72.67 and a twelve month high of $94.19.
NVS has been the subject of a number of recent analyst reports. Leerink Swann lifted their price target on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. Barclays cut shares of Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Novartis from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.32.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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