Pittenger & Anderson Inc. Has $5.93 Million Holdings in Novartis AG $NVS

Pittenger & Anderson Inc. lifted its holdings in Novartis AG (NYSE:NVS) by 1.6% in the 2nd quarter, Holdings Channel reports. The firm owned 49,020 shares of the company’s stock after buying an additional 750 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Novartis were worth $5,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. WPG Advisers LLC acquired a new position in Novartis during the 1st quarter worth $25,000. Tsfg LLC lifted its position in Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company’s stock worth $26,000 after acquiring an additional 183 shares during the last quarter. GFG Capital LLC acquired a new position in Novartis during the 2nd quarter worth $26,000. Barrett & Company Inc. acquired a new position in Novartis during the 2nd quarter worth $31,000. Finally, MCF Advisors LLC lifted its position in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $131.78 on Tuesday. The firm’s 50-day moving average is $126.80 and its 200-day moving average is $118.80. Novartis AG has a 52-week low of $96.06 and a 52-week high of $133.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a market cap of $278.38 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.82 and a beta of 0.64.

Analysts Set New Price Targets

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