Court Place Advisors LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 23,400 shares of the company’s stock after selling 427 shares during the period. Court Place Advisors LLC’s holdings in Novartis were worth $2,216,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Grimes & Company Inc. grew its holdings in shares of Novartis by 1.8% during the third quarter. Grimes & Company Inc. now owns 67,722 shares of the company’s stock worth $5,885,000 after purchasing an additional 1,170 shares during the last quarter. Bangor Savings Bank bought a new stake in shares of Novartis during the third quarter worth about $212,000. Kovack Advisors Inc. bought a new stake in shares of Novartis during the third quarter worth about $375,000. Creative Planning grew its holdings in shares of Novartis by 0.4% during the third quarter. Creative Planning now owns 73,993 shares of the company’s stock worth $6,430,000 after purchasing an additional 328 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Novartis by 41.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,444 shares of the company’s stock worth $647,000 after purchasing an additional 2,164 shares during the last quarter. 10.61% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on NVS. ValuEngine upgraded Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Cowen restated a “buy” rating and set a $100.00 price target on shares of Novartis in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $93.34.
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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