Trust Co. of Toledo NA OH Sells 248 Shares of Novartis AG (NYSE:NVS)

Trust Co. of Toledo NA OH cut its stake in shares of Novartis AG (NYSE:NVS) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,405 shares of the company’s stock after selling 248 shares during the period. Trust Co. of Toledo NA OH’s holdings in Novartis were worth $1,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Novartis by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock valued at $788,626,000 after purchasing an additional 1,389,610 shares during the period. Fisher Asset Management LLC increased its stake in Novartis by 15.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after acquiring an additional 231,851 shares during the period. FMR LLC lifted its position in shares of Novartis by 5.5% during the 3rd quarter. FMR LLC now owns 1,353,412 shares of the company’s stock valued at $155,669,000 after acquiring an additional 70,314 shares during the period. Natixis Advisors LLC grew its holdings in shares of Novartis by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 938,844 shares of the company’s stock worth $107,986,000 after purchasing an additional 26,317 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Novartis by 18.7% in the third quarter. Bank of Montreal Can now owns 780,980 shares of the company’s stock worth $90,289,000 after purchasing an additional 123,077 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NVS. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Novartis presently has an average rating of “Hold” and an average price target of $121.50.

Novartis Trading Down 0.2 %

Shares of Novartis stock traded down $0.18 during midday trading on Monday, reaching $98.90. The company had a trading volume of 449,401 shares, compared to its average volume of 1,251,550. The stock has a fifty day moving average price of $101.55 and a 200 day moving average price of $109.29. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm has a market cap of $202.15 billion, a PE ratio of 11.49, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the business earned $1.74 EPS. On average, equities analysts anticipate that Novartis AG will post 7.65 earnings per share for the current year.

Novartis Company 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.