Greenleaf Trust Buys 1,445 Shares of Novartis AG (NYSE:NVS)

Greenleaf Trust raised its stake in Novartis AG (NYSE:NVS) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,601 shares of the company’s stock after purchasing an additional 1,445 shares during the period. Greenleaf Trust’s holdings in Novartis were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of Novartis by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 39,056 shares of the company’s stock valued at $4,492,000 after purchasing an additional 608 shares during the last quarter. Leo Wealth LLC increased its position in Novartis by 8.1% during the 3rd quarter. Leo Wealth LLC now owns 13,939 shares of the company’s stock valued at $1,603,000 after buying an additional 1,047 shares in the last quarter. Eastern Bank acquired a new position in Novartis during the 3rd quarter valued at about $19,777,000. Signaturefd LLC raised its stake in Novartis by 4.4% in the third quarter. Signaturefd LLC now owns 40,486 shares of the company’s stock valued at $4,657,000 after buying an additional 1,718 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in Novartis by 10.0% in the third quarter. Foundations Investment Advisors LLC now owns 70,180 shares of the company’s stock worth $8,072,000 after acquiring an additional 6,365 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Novartis stock opened at $114.06 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $116.44 and a 200 day moving average price of $108.39. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The stock has a market cap of $233.14 billion, a P/E ratio of 14.46, a PEG ratio of 1.70 and a beta of 0.57.

Wall Street Analysts Forecast Growth

NVS has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $120.70.

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.