Nixon Peabody Trust Co. Sells 3,797 Shares of Novartis AG $NVS

Nixon Peabody Trust Co. cut its stake in shares of Novartis AG (NYSE:NVS) by 58.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,652 shares of the company’s stock after selling 3,797 shares during the period. Nixon Peabody Trust Co.’s holdings in Novartis were worth $340,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NVS. Keybank National Association OH grew its position in Novartis by 13.2% in the second quarter. Keybank National Association OH now owns 49,377 shares of the company’s stock worth $5,975,000 after acquiring an additional 5,742 shares in the last quarter. Sonora Investment Management Group LLC purchased a new position in shares of Novartis in the 2nd quarter worth about $266,000. Cypress Capital Group increased its position in shares of Novartis by 84.1% during the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock valued at $699,000 after purchasing an additional 2,638 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock valued at $5,311,000 after buying an additional 6,849 shares in the last quarter. Finally, Marshall Financial Group LLC bought a new stake in Novartis in the 2nd quarter worth approximately $1,909,000. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of Novartis stock opened at $139.05 on Monday. The business has a 50 day moving average of $130.58 and a 200 day moving average of $125.56. Novartis AG has a 52 week low of $96.91 and a 52 week high of $140.18. The company has a market cap of $293.74 billion, a PE ratio of 19.00, a P/E/G ratio of 1.97 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company had revenue of $14.36 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. HSBC restated a “reduce” rating and set a $112.00 price target on shares of Novartis in a research report on Wednesday, December 10th. Cfra set a $126.00 target price on Novartis and gave the company a “hold” rating in a research note on Wednesday, October 29th. Cfra Research upgraded Novartis to a “hold” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upgraded shares of Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $119.75.

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.