Nixon Peabody Trust Co. Has $340,000 Stake in Novartis AG $NVS

Nixon Peabody Trust Co. decreased its holdings in shares of Novartis AG (NYSE:NVS) by 58.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,652 shares of the company’s stock after selling 3,797 shares during the period. Nixon Peabody Trust Co.’s holdings in Novartis were worth $340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVS. Blue Trust Inc. increased its holdings in Novartis by 1.7% during the 3rd quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after purchasing an additional 78 shares in the last quarter. Glenview Trust co raised its position in Novartis by 2.3% in the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock valued at $460,000 after buying an additional 84 shares during the last quarter. Essex Savings Bank lifted its stake in Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after acquiring an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock worth $186,000 after acquiring an additional 85 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after acquiring an additional 87 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Up 0.1%

NVS stock opened at $139.05 on Monday. The stock has a fifty day moving average of $130.58 and a 200-day moving average of $125.56. Novartis AG has a fifty-two week low of $96.91 and a fifty-two week high of $140.18. The company has a market capitalization of $293.74 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.97 and a beta of 0.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). The business had revenue of $14.36 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. Novartis’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.06 earnings per share. As a group, equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Monday, November 10th. JPMorgan Chase & Co. raised Novartis from a “neutral” rating to an “overweight” rating in a research report on Monday, December 8th. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Company 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.