Greenleaf Trust Has $1.61 Million Position in Novartis AG $NVS

Greenleaf Trust cut its holdings in shares of Novartis AG (NYSE:NVS) by 24.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,314 shares of the company’s stock after selling 4,310 shares during the quarter. Greenleaf Trust’s holdings in Novartis were worth $1,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC bought a new position in shares of Novartis during the second quarter valued at $207,000. HB Wealth Management LLC lifted its holdings in Novartis by 18.3% during the 2nd quarter. HB Wealth Management LLC now owns 13,357 shares of the company’s stock worth $1,616,000 after buying an additional 2,064 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Novartis by 38.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 310,389 shares of the company’s stock worth $37,560,000 after buying an additional 86,351 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Novartis by 1.5% in the second quarter. V Square Quantitative Management LLC now owns 11,837 shares of the company’s stock valued at $1,432,000 after buying an additional 180 shares during the period. Finally, Norris Perne & French LLP MI raised its position in shares of Novartis by 4.1% during the second quarter. Norris Perne & French LLP MI now owns 2,531 shares of the company’s stock worth $306,000 after acquiring an additional 99 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS opened at $131.52 on Thursday. Novartis AG has a one year low of $96.06 and a one year high of $131.96. The company has a market cap of $277.82 billion, a PE ratio of 19.14, a P/E/G ratio of 1.79 and a beta of 0.64. The stock has a 50-day moving average of $123.00 and a 200-day moving average of $116.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 EPS. On average, equities research analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVS. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Finally, Wall Street Zen lowered Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Profile

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.