Trust Co. of Vermont Invests $7.28 Million in Novartis AG $NVS

Trust Co. of Vermont purchased a new position in shares of Novartis AG (NYSE:NVS) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 46,466 shares of the company’s stock, valued at approximately $7,282,000.

Other large investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in Novartis by 4,316.2% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company’s stock valued at $2,312,000 after buying an additional 14,416 shares during the period. Concurrent Investment Advisors LLC grew its stake in Novartis by 36.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 14,815 shares of the company’s stock worth $2,043,000 after acquiring an additional 3,967 shares in the last quarter. Truist Financial Corp increased its position in shares of Novartis by 6.6% during the fourth quarter. Truist Financial Corp now owns 887,296 shares of the company’s stock worth $122,332,000 after acquiring an additional 54,682 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Novartis by 68.2% during the fourth quarter. Evergreen Capital Management LLC now owns 47,245 shares of the company’s stock valued at $6,514,000 after acquiring an additional 19,155 shares in the last quarter. Finally, Presilium Private Wealth LLC bought a new stake in shares of Novartis during the first quarter valued at approximately $703,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

NVS has been the subject of a number of research reports. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.20.

Novartis Stock Up 0.9%

Shares of Novartis stock opened at $152.18 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. Novartis AG has a 1 year low of $121.57 and a 1 year high of $170.46. The firm’s 50-day moving average is $153.83 and its two-hundred day moving average is $153.42. The stock has a market cap of $290.38 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.58 and a beta of 0.45.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion during the quarter. As a group, research analysts expect that Novartis AG will post 8.85 earnings per share for the current fiscal year.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.