HM Payson & Co. Increases Stock Position in Novartis AG (NYSE:NVS)

HM Payson & Co. boosted its position in shares of Novartis AG (NYSE:NVS) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,163 shares of the company’s stock after purchasing an additional 358 shares during the period. HM Payson & Co.’s holdings in Novartis were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Novartis by 1,029.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,754 shares of the company’s stock valued at $460,000 after purchasing an additional 4,333 shares in the last quarter. Norden Group LLC bought a new position in Novartis during the 1st quarter valued at $207,000. J.W. Cole Advisors Inc. grew its holdings in Novartis by 7.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 6,314 shares of the company’s stock worth $611,000 after acquiring an additional 464 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Novartis in the 1st quarter worth about $208,000. Finally, Mission Wealth Management LP raised its stake in shares of Novartis by 7.5% in the 1st quarter. Mission Wealth Management LP now owns 10,037 shares of the company’s stock valued at $971,000 after purchasing an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.9 %

Novartis stock opened at $109.34 on Friday. The firm has a market capitalization of $223.49 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.59 and a beta of 0.57. The company has a 50-day simple moving average of $115.76 and a 200-day simple moving average of $109.12. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.72 and a current ratio of 1.11.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the firm earned $1.74 EPS. As a group, equities analysts expect that Novartis AG will post 7.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $121.50.

Novartis 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.