Ingalls & Snyder LLC Increases Holdings in Novartis AG (NYSE:NVS)

Ingalls & Snyder LLC boosted its holdings in shares of Novartis AG (NYSE:NVS) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,434 shares of the company’s stock after acquiring an additional 2,209 shares during the quarter. Ingalls & Snyder LLC’s holdings in Novartis were worth $13,392,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Founders Financial Securities LLC boosted its position in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. lifted its position in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after acquiring an additional 95 shares during the period. NBC Securities Inc. lifted its position in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after acquiring an additional 97 shares during the period. Centaurus Financial Inc. lifted its position in Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after acquiring an additional 98 shares during the period. Finally, Portside Wealth Group LLC lifted its position in Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after acquiring an additional 99 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Up 0.1 %

Shares of NYSE NVS traded up $0.08 during midday trading on Tuesday, reaching $104.88. 104,019 shares of the company’s stock were exchanged, compared to its average volume of 1,331,439. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock has a market capitalization of $214.37 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The business’s fifty day moving average price is $110.48 and its two-hundred day moving average price is $110.30.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the company earned $1.74 earnings per share. Analysts forecast that Novartis AG will post 7.66 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVS. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets raised their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis has an average rating of “Hold” and a consensus target price of $121.50.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.