Novartis AG (NYSE:NVS) Shares Acquired by Monte Financial Group LLC

Monte Financial Group LLC increased its position in shares of Novartis AG (NYSE:NVS) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,113 shares of the company’s stock after purchasing an additional 114 shares during the period. Novartis accounts for approximately 1.8% of Monte Financial Group LLC’s portfolio, making the stock its 29th largest position. Monte Financial Group LLC’s holdings in Novartis were worth $4,384,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 1,389,610 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Novartis by 191.1% in the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after purchasing an additional 1,250,318 shares during the last quarter. Magnetar Financial LLC raised its holdings in Novartis by 53.7% during the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after purchasing an additional 666,104 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Novartis during the 2nd quarter worth approximately $64,610,000. Finally, Mondrian Investment Partners LTD boosted its holdings in shares of Novartis by 40.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after buying an additional 590,830 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.2 %

Novartis stock opened at $114.06 on Thursday. The stock has a market capitalization of $233.14 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.70 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $116.44 and a two-hundred day moving average of $108.39. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $120.70.

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.