Trust Co. of Toledo NA OH Has $2.29 Million Stock Position in Novartis AG $NVS

Trust Co. of Toledo NA OH decreased its stake in shares of Novartis AG (NYSE:NVS) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,956 shares of the company’s stock after selling 189 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Novartis were worth $2,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after buying an additional 2,666 shares during the period. Rhumbline Advisers grew its stake in Novartis by 11.1% in the first quarter. Rhumbline Advisers now owns 38,600 shares of the company’s stock valued at $4,303,000 after acquiring an additional 3,846 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in shares of Novartis by 9.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,041 shares of the company’s stock valued at $339,000 after acquiring an additional 252 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Novartis by 29.9% during the first quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock worth $727,000 after purchasing an additional 1,500 shares during the period. Finally, Simon Quick Advisors LLC lifted its holdings in shares of Novartis by 34.6% in the 1st quarter. Simon Quick Advisors LLC now owns 5,732 shares of the company’s stock worth $639,000 after purchasing an additional 1,475 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the subject of several research reports. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Wednesday. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Finally, Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.33.

Novartis Price Performance

Shares of NYSE NVS opened at $130.05 on Friday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The stock’s 50 day moving average price is $125.14 and its 200-day moving average price is $117.86. The company has a market capitalization of $274.72 billion, a PE ratio of 18.93, a PEG ratio of 1.81 and a beta of 0.64. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $13.94 billion. During the same quarter in the previous year, the firm earned $1.97 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Profile

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.