Zevin Asset Management LLC grew its stake in shares of Novartis AG (NYSE:NVS) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,447 shares of the company’s stock after buying an additional 3,211 shares during the period. Novartis accounts for approximately 1.2% of Zevin Asset Management LLC’s portfolio, making the stock its 28th largest holding. Zevin Asset Management LLC’s holdings in Novartis were worth $3,862,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in NVS. Buckingham Capital Management Inc. acquired a new position in shares of Novartis in the first quarter valued at about $227,000. Cox Capital Mgt LLC boosted its position in Novartis by 4.1% during the second quarter. Cox Capital Mgt LLC now owns 20,451 shares of the company’s stock worth $1,867,000 after purchasing an additional 806 shares in the last quarter. Private Trust Co. NA boosted its position in Novartis by 9.1% during the second quarter. Private Trust Co. NA now owns 3,496 shares of the company’s stock worth $319,000 after purchasing an additional 293 shares in the last quarter. Montecito Bank & Trust lifted its position in shares of Novartis by 18.2% in the second quarter. Montecito Bank & Trust now owns 4,722 shares of the company’s stock valued at $431,000 after acquiring an additional 726 shares in the last quarter. Finally, Rockland Trust Co. purchased a new position in shares of Novartis in the second quarter valued at approximately $248,000. Hedge funds and other institutional investors own 11.19% of the company’s stock.
Shares of NYSE NVS traded up $1.38 during midday trading on Friday, hitting $88.37. The stock had a trading volume of 1,366,856 shares, compared to its average volume of 2,204,612. The company has a market capitalization of $199.13 billion, a PE ratio of 17.36, a P/E/G ratio of 1.94 and a beta of 0.59. The stock has a 50 day simple moving average of $86.81 and a 200-day simple moving average of $87.75. Novartis AG has a 1 year low of $72.19 and a 1 year high of $95.00. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.42.
Several research firms have recently weighed in on NVS. Jefferies Financial Group restated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Argus raised their target price on Novartis to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. ValuEngine upgraded Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Cowen restated a “buy” rating and issued a $100.00 target price on shares of Novartis in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $95.28.
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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