TD Private Client Wealth LLC Has $1.43 Million Stake in Novartis AG (NYSE:NVS)

TD Private Client Wealth LLC boosted its holdings in Novartis AG (NYSE:NVS) by 40.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,446 shares of the company’s stock after purchasing an additional 3,596 shares during the quarter. TD Private Client Wealth LLC’s holdings in Novartis were worth $1,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NVS. SG Americas Securities LLC raised its stake in Novartis by 18.6% in the 2nd quarter. SG Americas Securities LLC now owns 17,924 shares of the company’s stock worth $1,908,000 after purchasing an additional 2,811 shares in the last quarter. SteelPeak Wealth LLC bought a new position in Novartis in the 2nd quarter valued at about $226,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Novartis by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,496 shares of the company’s stock valued at $829,000 after buying an additional 400 shares during the period. Fiduciary Financial Group LLC bought a new position in Novartis in the 2nd quarter valued at about $418,000. Finally, Triad Wealth Partners LLC bought a new position in Novartis in the 2nd quarter valued at about $108,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Down 0.6 %

NVS opened at $98.60 on Friday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The firm has a market capitalization of $201.53 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.50 and a beta of 0.56. The company’s 50 day moving average price is $108.56 and its two-hundred day moving average price is $110.22.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the company earned $1.74 EPS. As a group, research analysts predict that Novartis AG will post 7.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and an average price target 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.