Novartis AG $NVS Stock Holdings Raised by Ingalls & Snyder LLC

Ingalls & Snyder LLC increased its holdings in Novartis AG (NYSE:NVS) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 132,017 shares of the company’s stock after buying an additional 5,769 shares during the period. Ingalls & Snyder LLC’s holdings in Novartis were worth $15,975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NVS. Brighton Jones LLC boosted its holdings 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. GAMMA Investing LLC boosted its holdings in shares of Novartis by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock valued at $727,000 after buying an additional 1,500 shares during the period. Spire Wealth Management boosted its holdings in shares of Novartis by 17.2% in the 1st quarter. Spire Wealth Management now owns 3,032 shares of the company’s stock valued at $338,000 after buying an additional 446 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Novartis by 10.9% in the 1st quarter. Bessemer Group Inc. now owns 11,289 shares of the company’s stock valued at $1,258,000 after buying an additional 1,105 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Novartis by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,420 shares of the company’s stock valued at $158,000 after buying an additional 710 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Trading Down 0.9%

Shares of NYSE:NVS opened at $130.48 on Friday. The company has a 50 day moving average of $127.56 and a 200-day moving average of $119.49. The firm has a market cap of $275.64 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.82 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

A number of research firms have issued reports on NVS. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Novartis currently has an average rating of “Hold” and a consensus target price of $120.33.

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.