American National Bank Grows Stake in Novartis AG (NYSE:NVS)

American National Bank grew its holdings in Novartis AG (NYSE:NVS) by 53.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,747 shares of the company’s stock after acquiring an additional 1,298 shares during the quarter. American National Bank’s holdings in Novartis were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NVS. Frazier Financial Advisors LLC purchased a new position in shares of Novartis in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. purchased a new position in shares of Novartis in the 4th quarter valued at about $26,000. Operose Advisors LLC purchased a new position in Novartis during the 3rd quarter worth approximately $28,000. Planned Solutions Inc. purchased a new position in Novartis during the 4th quarter worth approximately $31,000. Finally, AdvisorNet Financial Inc grew its stake in Novartis by 480.0% during the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.5 %

NYSE:NVS opened at $105.16 on Friday. Novartis AG has a 52-week low of $92.19 and a 52-week high of $108.78. The stock’s 50 day moving average price is $100.88 and its 200 day moving average price is $100.84. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $214.95 billion, a PE ratio of 14.19, a P/E/G ratio of 1.62 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.83 billion during the quarter, compared to analysts’ expectations of $11.50 billion. On average, research analysts anticipate that Novartis AG will post 7.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVS. BMO Capital Markets raised their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group began coverage on Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

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.