Monte Financial Group LLC Boosts Stock Holdings in Novartis AG (NYSE:NVS)

Monte Financial Group LLC raised its holdings in Novartis AG (NYSE:NVS) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 38,113 shares of the company’s stock after purchasing an additional 114 shares during the quarter. Novartis makes up 1.8% of Monte Financial Group LLC’s investment portfolio, making the stock its 29th largest position. Monte Financial Group LLC’s holdings in Novartis were worth $4,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Ocean LLC purchased a new stake in shares of Novartis in the first quarter valued at approximately $25,000. Clearstead Trust LLC boosted its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Novartis during the 2nd quarter worth $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis during the 2nd quarter worth $29,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in shares of Novartis in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NVS shares. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the stock 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $120.70.

Novartis Price Performance

Shares of NYSE:NVS opened at $114.06 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The business’s fifty day moving average price is $116.44 and its two-hundred day moving average price is $108.39. The stock has a market cap of $233.14 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $120.92.

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.