Monte Financial Group LLC Has $5.97 Million Stock Holdings in Novartis AG $NVS

Monte Financial Group LLC lessened its holdings in shares of Novartis AG (NYSE:NVS) by 11.2% during the third quarter, HoldingsChannel.com reports. The firm owned 46,583 shares of the company’s stock after selling 5,879 shares during the quarter. Novartis makes up about 2.2% of Monte Financial Group LLC’s holdings, making the stock its 17th biggest holding. Monte Financial Group LLC’s holdings in Novartis were worth $5,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GFG Capital LLC bought a new position in Novartis in the second quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $30,000. Barrett & Company Inc. bought a new stake in shares of Novartis during the second quarter worth about $31,000. SOA Wealth Advisors LLC. purchased a new position in shares of Novartis during the second quarter valued at approximately $40,000. Finally, Quaker Wealth Management LLC grew its holdings in shares of Novartis by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 352 shares of the company’s stock valued at $43,000 after acquiring an additional 704 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVS. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Friday, January 16th. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Monday, December 29th. HSBC reiterated a “reduce” rating and set a $112.00 target price on shares of Novartis in a research note on Wednesday, December 10th. Finally, Cfra Research upgraded Novartis to a “hold” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $119.75.

Novartis Stock Performance

Shares of Novartis stock opened at $147.27 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average price is $136.23 and its 200-day moving average price is $128.69. Novartis AG has a 12 month low of $97.71 and a 12 month high of $148.10. The firm has a market cap of $311.09 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.92 and a beta of 0.51.

Novartis (NYSE:NVS) last posted 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 company had revenue of $14.36 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 earnings per share. On average, equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

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.