Court Place Advisors LLC trimmed its stake in shares of Novartis AG (NYSE:NVS) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,400 shares of the company’s stock after selling 427 shares during the quarter. Court Place Advisors LLC’s holdings in Novartis were worth $2,216,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Grimes & Company Inc. boosted its position in Novartis by 1.8% during the third quarter. Grimes & Company Inc. now owns 67,722 shares of the company’s stock worth $5,885,000 after purchasing an additional 1,170 shares during the period. Bangor Savings Bank bought a new position in Novartis during the third quarter worth $212,000. Kovack Advisors Inc. bought a new position in Novartis during the third quarter worth $375,000. Creative Planning boosted its position in Novartis by 0.4% during the third quarter. Creative Planning now owns 73,993 shares of the company’s stock worth $6,430,000 after purchasing an additional 328 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Novartis by 41.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,444 shares of the company’s stock worth $647,000 after purchasing an additional 2,164 shares during the period. 10.61% of the stock is owned by hedge funds and other institutional investors.
NVS opened at $95.54 on Wednesday. Novartis AG has a fifty-two week low of $74.74 and a fifty-two week high of $96.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.73 and a current ratio of 0.95. The company has a market capitalization of $215.13 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.94 and a beta of 0.59. The stock has a fifty day moving average of $94.44 and a 200-day moving average of $90.48.
NVS has been the subject of a number of research analyst reports. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of Novartis in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $93.34.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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