Nixon Peabody Trust Co. Has $14.01 Million Stake in Novartis AG (NYSE:NVS)

Nixon Peabody Trust Co. grew its holdings in Novartis AG (NYSE:NVS) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 121,770 shares of the company’s stock after purchasing an additional 1,294 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Novartis were worth $14,006,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NVS. New Millennium Group LLC acquired a new position in shares of Novartis during the second quarter worth approximately $28,000. Lynx Investment Advisory acquired a new position in Novartis during the 2nd quarter worth $29,000. Industrial Alliance Investment Management Inc. bought a new position in Novartis in the 2nd quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis in the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC raised its position in shares of Novartis by 149.3% during the first quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock worth $34,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVS. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. One investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.50.

Novartis Stock Down 0.2 %

Shares of NYSE NVS traded down $0.20 during mid-day trading on Monday, reaching $102.86. 59,823 shares of the company’s stock were exchanged, compared to its average volume of 1,339,510. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $210.25 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.49 and a beta of 0.58. The business has a fifty day simple moving average of $113.14 and a 200 day simple moving average of $110.01.

Novartis (NYSE:NVS) last announced 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 for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period last year, the company posted $1.74 EPS. As a group, equities analysts expect that Novartis AG will post 7.63 EPS for the current fiscal 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.